4 ms·
Why not incorporate in Delaware or Nevada? Both seem to be ideal for startups/personal projects, no tax until you hit $1M revenue (only personal income tax), yo
by bitL 11y ago
Why not incorporate in Delaware or Nevada? Both seem to be ideal for startups/personal projects, no tax until you hit $1M revenue (only personal income tax), you pay only yearly sales license or franchise tax, you don't need to reside there (you can even reside outside US, so you can live happily in Costa Rica). What's the benefit of incorporating in CA?
- exclusiv 11y agoI have my third LLC that I'm going to continue registered in Nevada. However, since myself and partner both live in California so we had to register a "foreign LLC" in California which still has the overhead and costs. So basically - doing it legit means you are required to register a foreign LLC in Cali if you are operating there.
- bitL 11y agoThat's really annoying :(
- quickquicker 11y agoRan into this same issue with my Delaware LLC as we have a partner based in Florida which has similar foreign LLC registration requirements.