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@Patio11 - I recently moved from California to Florida and I'm about to open an LLC here. What are the advantages / disadvantages of having an LLC based in Del
by sachitgupta 8y ago
@Patio11 - I recently moved from California to Florida and I'm about to open an LLC here.
What are the advantages / disadvantages of having an LLC based in Delaware vs creating one in Florida?
I'd love to use Stripe Atlas - but not sure if I'm making things more complicated than they need to be by opening in Delaware vs Florida.
- opmac 8y agoYou should probably talk to an attorney, but as I understand, Florida isn't a bad state to consider either. It really comes down to cost savings and specific laws, and where you're primarily doing business.
- gamblor956 8y agoIf you don't plan on trying to raise VC money, then a local LLC is preferable to a Delaware LLC in 99.999999% of business cases. Or another way to put it: if don't plan to do business outside of Florida, why would you subject yourself to the laws and jurisdiction of another state just to save a few bucks?
- sachitgupta 8y ago> If you don't plan on trying to raise VC money, then a local LLC is preferable to a Delaware LLC in 99.999999% of business cases. Well, I do have clients and customers outside FL - lots of them. Does that make a difference?
- gamblor956 8y agoIt depends on where you plan on doing work for those clients.
- sachitgupta 8y agoMostly in FL but I also travel a bunch cause I'm remote.
- andrew_ 8y agoI own and operate several LLCs in Florida. One that files as a C Corp, which means it's subject to corporate tax in the state. FL is 3.2% lower than DE right now and that's something to consider. LLCs in Florida that are not filing as a corp are not required to pay corporate taxes (in most situations). For me, there was zero reason to use a DE LLC here. If I were still in Michigan there would have been A LOT of incentive to go with a DE LLC.