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LLC advice

Discussion in 'Business & Tax Advice' started by dunk15us, Jan 11, 2012.

  1. dunk15us

    dunk15us Regular Member

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    Hey guys

    Me and my business partner live in New York and would like to incorporate our seo company as an LLC. The seo company is completely internet based; we work from our computers at home and have no employees.

    If we were to incorporate in Nevada or Delaware as an LLC, would we have to pay any additional taxes in NY besides our personal income taxes? Would we have to pay any taxes in Nevada or Delaware? And if we were to incorporate in NY, what taxes would we face?

    Overall, what course of action would you recommend?

    Thank you!
     
  2. iiaok

    iiaok Regular Member

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    Recommendation: HIRE AN ACCOUNTANT and ask them.

    If you base your tax decisions based around what you learn on a marketing forum, you're going to find yourself getting audited. And those guys don't lube up the rubber gloves before jamming them up your...
     
  3. qwiktrade

    qwiktrade Newbie

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    Nevada has no state taxes but they now require a business license which diminishes privacy and costs about 200 dollars. The best option in my opinion is Wyoming. It's cheap and has the best privacy in the US. The only advantage of Delaware would be if you have plans to take the company public. Sorry, don't know about NY. I would never do business in that tax happy place.
     
  4. Copywriter

    Copywriter Newbie

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    Personally, I don't understand the rational behind individuals that operate a 100% online endeavor, yet rather open their business in the U.S. rather than off-shore.

    The difference in terms of taxes is HUGE; off-shore you would be paying literally zero taxes on income earned!
     
  5. Reframer

    Reframer Newbie

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    That is the BEST way to end up in jail.

    I went with Delaware - I reside in Wisconsin.
    No need to say anymore. Your research is now complete.
     
  6. Paranoid Android

    Paranoid Android Jr. VIP Jr. VIP Premium Member

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    if you register in nevada or delaware where i guess the registration fees are low, you will only have to pay the company's taxes in one of those states, and in NY you pay your personal income taxes. But if you are opening a branch office in NY, you might have to pay taxes for the work you get done in NY, but if you are working from home it wont matter i guess.
     
  7. bmoredcg

    bmoredcg Junior Member

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    Wyoming is supposedly the best place to file for an LLC.