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I set up an LLC in the US for about $500 and pay Delaware a few hundred each year in fees. As it turned out, it was probably an unnecessary exercise and I proba
by ghaff 4mo ago
I set up an LLC in the US for about $500 and pay Delaware a few hundred each year in fees. As it turned out, it was probably an unnecessary exercise and I probably won't renew in a couple years. But it wasn't a big deal.
- WinstonSmith84 4mo agoDelaware is expensive and you must have had a very specific reason to build your LLC there, rather than for example in Wyoming - such that to raise capital, build a corporation, etc. Now if you want to shut it down in a couple of years, it's not exactly clear what you had in mind.
- deleted 4mo ago[deleted]
- glad_duck 4mo agoIf you register your company in WY but will be doing business in e.g. MA, you will have to pay registration fee in both jurisdictions. Doesn't sound like a saving to me. If you mean why not register in your state, then Delaware has some tax benefits I believe. Not sure they will apply in MA though, maybe somewhere else?
- ghaff 4mo agoMA was going to be quite a bit more expensive. I did the transaction through Stripe and they use Delaware.
- glad_duck 4mo agoSince my business is in MA it doesn't matter where my LLC is, I would have had to pay registration fee for "Foreign LLC" in MA to stay legal. That is in addition to fees I would have paid to DE. Not sure if MA is so unique, but I don't think it is.
- ghaff 4mo agoSituations have changed in tech so I'll probably keep my LLC for a while but when things come up for renewal probably no reason to. Associated with another company and not beating bushes for big time-consuming contracts.