4 ms·
One thing I like about the US is that there are so many different jurisdictions all in the business of having competitive incorporation services. So although LL
by cloudjacker 10y ago
One thing I like about the US is that there are so many different jurisdictions all in the business of having competitive incorporation services. So although LLC formation might cost $800 in California, it can be like $50 in a nearby state.
Both a feature and a bug, is that there is no federal incorporation statute for private persons in the United States.
- runako 10y ago> although LLC formation might cost $800 in California That sounded really high, so I looked it up here: http://www.sos.ca.gov/business-programs/business-entities/forms#llc http://www.sos.ca.gov/business-programs/business-entities/fo... It looks like CA is $70, unless I'm missing something. I've never started an LLC in CA though. (EDIT: keep reading down the thread for more clarification.) (But: there's another thread here that says IL is $500, which does appear to be correct.)
- cag_ii 10y agoThe $800 usually mentioned is actually the yearly minimum tax for an LLC in CA. From the LLC-1 form: "Filing Form LLC-1 will obligate most LLCs to pay an annual minimum $800 tax to the California Franchise Tax Board. For more information about taxes, go to https://www.ftb.ca.gov." https://www.ftb.ca.gov."
- runako 10y agoAwesome, thanks for the clarification!
- chenster 10y agoCA is not a small business friendly state. $800 is the hefty minimum amount of tax a corp has to paid annually even it makes no money.