Hey guys I have a client for 2k a month is it a smart idea to start an LLC now? or wait and simply just make my SEO website? if so about delaware or opening any LLC outside of your state of operations (ie im in NY) Will I need some sort of P.O. BOX? if so would it actually be worth it going down this route or should I open one in new york? I dont want to get chased down but technically Im only doing a service which is non tangible
1. Why delaware? Even if you start a DE corporation you will still have to file in NY as a foreign corporation and file NY taxes. 2. You don't need a PO box if you register out of state. You have to have a legal mailing address in the state you incorporate but you can pay a registered agent to do it for about $100/year 3. In order to get tax savings your cashflow would have to be much higher than $2k/mo. Remember, you only save on taxes in other states on profits. If you keep good records and plan ahead you can write off enough so the corporation operates on nearly break even.
so then I should just sign up with NY? tai lopez said delaware was cheapest not only to register but also u dont need to do that PUBLICIZE ur LLC in 2 papers which costs like $200 extra..NY is very expensive for everything
Call them - https://www.incnow.com/delaware-llc/ and they will answer and sort everything out for you.
There is no advantage of DE over NY for most people. The main advantages of DE is that 1. business matters in trial are handled by judge trials, not jury trials, 2. business laws favor management over shareholders, and 3. there is no taxes on business profits. This is only really beneficial if you are a corporation with large profits. The important point is that if you open a DE LLC and operate in NY, you have to register and pay all NY fees anyways. If he's telling you that he's wrong. DE LLC = $90 filing fee + $300/year AZ and MS= $50 filing fee + $0/year OH = $99 filing fee + $0/year Are you sure this is not about the ficticious DBA statement and not corporations? The laws may be different in NY, but in CA I got the "need to publish in papers to grab a business name" done for $55, and it was for 5 DBA names.
