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If you're in the US I would consider forming an LLC in your home state and use that as a catch all entity for your projects. If any of the projects take off you
by brentm 10y ago
If you're in the US I would consider forming an LLC in your home state and use that as a catch all entity for your projects. If any of the projects take off you can spin that project off into a different entity type (if you want). LLCs are mostly painless to create & file taxes for.
- gst 10y agoWould there by any advantage of a Delaware-based LLC (vs. home-state based LLC, e.g., in California) if it's just for liability protection?
- dublinben 10y agoIt is much easier and less expensive to incorporate in Delaware. You're looking at $50/yr for a Registered Agent and ~$89 for your incorporation fee.
- conductr 10y agoI had this conversation with an attorney friend recently. Apparently most states have similar corporate laws, the difference is that Delaware has a huge history of legal precedent. If you found yourself in a legal battle, for any reason, you could probably defend yourself in a more easy and predictable manner in Delaware.
- TaylorGood 10y agoPeople will tell you CA still makes you pay the $800 as a CA resident with an out-of-state LLC. That is, if the FTC discovers you are operating in California. A different friend has had 3 out-of-state LLC's over the last 6 years without CA discovering the fact mentioned above.