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If you register your LLC or INC in any state other than your own - you must do your banking in that state as well.
The govt doesnt care where you set up - they care where the money flows to. If you set up a NV LLC but your bank account is in NY then you have to register as a foreign corporation as doing business in that state. And usually foreign corp tax rates are higher than domestic corp tax rates within that state.
Now here is the kicker. If you set up a NV corp and dont pay your taxes in NY then your contracts may not be valid and can be voided by the other party and if you are sued - you can be stopped from defending the lawsuit if your taxes are not paid up - until you do. Which means by that time the Plaintiff may have already gotten a judgment against you and be seeking to attach your bank accounts.
I always recommend to clients to INC or LLC in their state. What I wrote may never effect you, but if it does -- its really going to suck for you.
We have already done it to 2 companies we sued. They had to pay $20,000 to $40,000 in back taxes before they could even defend the case. It makes litigation much more costly.
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