I have a question about how personal income taxes work. I was reading a site about LLCs and Nevada and Delaware. A selling point for Nevada was no personal income taxes. The same is apparently not true for Delaware.
My question is the following. If you set up a LLC in Delaware but are not a resident there but pay yourself a salary from the LLC (via S classification), do you have to pay personal income taxes in Delaware? If not, is there any tax benefit from a personal perspective to forming an LLC in Nevada over Delaware?
Thanks.
My question is the following. If you set up a LLC in Delaware but are not a resident there but pay yourself a salary from the LLC (via S classification), do you have to pay personal income taxes in Delaware? If not, is there any tax benefit from a personal perspective to forming an LLC in Nevada over Delaware?
Thanks.