Good place in the US to incoprate as a LLC? - GoFuckYourself.com

Gateway69 · 03-08-2010, 01:34 PM

restarting up a new company , will be online only and looking for advice on a state to incorporate in. Also curious about the pro's and con's and what sort of things you have to deal with on the tax level if your company is purely online..

Vendzilla · 03-08-2010, 01:36 PM

heard Nevada is really good

Gateway69 · 03-08-2010, 01:40 PM

Yea I keep hearing that as well.. bit curious as to why..

Adraco · 03-08-2010, 02:30 PM

Delaware has the most company friendly laws in the US and Nevada follows suite. Godaddy offers as a service to help you setup a LLC in any state you wish and they explain some and give a few good tips. But most everyone you'll talk to will say Delaware or Nevada.

Link: http://www.godaddy.com/business/inco...-services.aspx

candyflip · 03-08-2010, 02:39 PM

I did in my home state. It was pretty simple. Fill out a few forms. Write a check and send it in.

All the details on what to do can be found using Google in about 5 minutes.

hypedough · 03-08-2010, 02:40 PM

MyCorporation.com? or LegalZoom.com? Go for your home state unless you're looking for loopholes on taxes, I think Delaware is for that.

03-08-2010, 02:42 PM

Nevada and Delaware. The reason, is that neither has State Tax to pay, which saves you a nice chunk of change.

Phoenix · 03-08-2010, 02:43 PM

spain...

quantum-x · 03-08-2010, 02:47 PM

Dela.. where?

96ukssob · 03-08-2010, 02:49 PM

Quote:

Originally Posted by Phoenix

spain...

Mike Dutch · 03-08-2010, 02:51 PM

Quote:

Originally Posted by Phoenix

spain...

, u know what r taking about, gotta love the catalan

TidalWave · 03-08-2010, 03:07 PM

Delaware

www.thedelawarecompany.com

ShellyCrash · 03-08-2010, 03:33 PM

I hear Nevada is best because they have the loosest standards, can use po box as place of business, can have a registered agent, etc and no state taxes.

FL is good too. I'm based out of here but I know alot of people try and set up through here almost as often as Nevada. FL has no state tax either, but from what I understand they require a physical location.

Klen · 03-08-2010, 05:43 PM

Btw when you register Usa company(and you are not from usa)then you need to pay double taxes(your own country + usa)or just usa tax?

pornlaw · 03-08-2010, 05:55 PM

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.

DateDoc · 03-08-2010, 06:27 PM

Quote:

Originally Posted by ShellyCrash

I hear Nevada is best because they have the loosest standards, can use po box as place of business, can have a registered agent, etc and no state taxes.

FL is good too. I'm based out of here but I know alot of people try and set up through here almost as often as Nevada. FL has no state tax either, but from what I understand they require a physical location.

In FL as an LLC you are subject to the Florida Income Tax Code and must file a Florida corporate income tax return.

DateDoc · 03-08-2010, 06:31 PM

Quote:

Originally Posted by KlenTelaris

Btw when you register Usa company(and you are not from usa)then you need to pay double taxes(your own country + usa)or just usa tax?

Generally the company would have to pay taxes in the US and then you would have to pay taxes on the money you earned in your country.

Dappz · 03-08-2010, 07:37 PM

ummmmmmmmmm i hard to make a legal business ;)

ShellyCrash · 03-08-2010, 09:42 PM

Quote:

Originally Posted by DateDoc

In FL as an LLC you are subject to the Florida Income Tax Code and must file a Florida corporate income tax return.

You are correct- http://dor.myflorida.com/dor/taxes/corporate.html

I stand corrected.

Barefootsies · 03-08-2010, 09:52 PM

Quote:

Originally Posted by sherm

Nevada and Delaware. The reason, is that neither has State Tax to pay, which saves you a nice chunk of change.

xxweekxx · 03-08-2010, 09:57 PM

what u guys talking about.. it doesnt matter if the state has no income tax.. you still get profits passed on to you, and you have to pay income tax in your home state..

Say you live in NY, but your delaware corp just profited $1mil for 2009, and you took all that money into your bank account..

you have to pay NY state taxes on your $1mil, as well as federal tax...

incorporating in delaware doesnt absolve you of state tax on income, so I dont really see the advantages...

LAJ · 03-08-2010, 11:56 PM

Nevada if you are west of the mississippi, Delaware if you are east.

Voodoo · 03-09-2010, 02:53 AM

Delaware if you intend on issuing public stock or getting any mainstream VC / investors with a C-Corp.

Brujah · 03-09-2010, 03:02 AM

I don't see Wyoming mentioned, so you might look into that too. I don't remember why, but it was recommended to another guy I knew.

livecarlo · 03-09-2010, 12:07 PM

To register in NV is pretty simple. You open a mailbox with MailLinkPlus or ForwardNevada who also provide registered agent service then download the form http://nvsos.gov/index.aspx?page=133 and send it back with a check. Once you're incorporated you do the paperwork for your federal and state tax ID and then you find a bank in NV to open your biz bank account.

Most banks let you open accounts online if you have a credit history. You would also need to file for S-corp if you want your biz and personal earnings to be regarded as separate incomes. You also need to send your list of initial managers to NV with-in a month of incorporating.

Most biz setup companies would do all that for around $700

marketsmart · 03-09-2010, 12:17 PM

wow, the lack of knowledge in this thread is hilarious...

i can guarantee you that most small incorporated business have pierced the corporate veil by not running their corporations properly..

in general, there is more mis information about corporations as a result of people continuing to pass bad information around..

spend the extra money and go see an accountant or attorney when you set up your first corporation and you will learn everything you need to know..

and make sure they are versed in the state laws of the state you decide to incorporate in..

.

Kingfish · 03-09-2010, 12:47 PM

If you?re a U.S. resident the best place to start your LLC is the state you reside in, and here is why:

1. You will have to hire an agent in the other state to receive your official notices from the Secretary of State?s Office and court summons. This will probably cost a couple of hundred bucks a year.

2. If you LLC gets sued or if your LLC wants to sue somebody you will have to travel to that state to defend yourself or file suit.

3. As far as avoiding state income taxes if you register in Nevada or Delaware that won?t really work if you actually operate your business out of another state in the U.S. If you have a physical presence in another state you?re a required to file a foreign corporation notice with your home state?s Secretary of State?s office. That will trigger state taxation. Nowadays it?s very hard to get by not doing this because if you want to open a bank account for the LLC in your home state the bank will require this. Furthermore, since we are talking about an LLC rather than an INC most people chose to have their LLC treated as a partnership meaning that the LLC doesn?t pay any income taxes anyway, but the taxation passes on to the partners and wherever they actually reside will control the taxation rate. Keep in mind partnership LLCs are still required to file a tax return in the state they are organized in so you?re probably just creating extra paperwork and costs for yourself by incorporating in a state other than the one you live in.

BTW: In most cases your state?s secretary of state?s office will provide everything you need to start an LLC in your home state so there is no need to pay one of those services to do it for you.

Kingfish · 03-09-2010, 12:52 PM

pornlaw beat me to the punch lol

03-08-2010, 01:34 PM	#1
Gateway69 Confirmed User Join Date: Jul 2002 Posts: 1,510	Good place in the US to incoprate as a LLC? restarting up a new company , will be online only and looking for advice on a state to incorporate in. Also curious about the pro's and con's and what sort of things you have to deal with on the tax level if your company is purely online.. __________________ Gateway - Tech Guru Dreaming Computers IG

03-08-2010, 01:36 PM	#2
Vendzilla Biker Gnome Industry Role: Join Date: Mar 2004 Location: cell#324 Posts: 23,200	heard Nevada is really good __________________ Webair died? Carbon is not the problem, it makes up 0.041% of our atmosphere , 95% of that is from Volcanos and decomposing plants and stuff. So people in the US are responsible for 13% of the carbon in the atmosphere which 95% is not from Humans, like cars and trucks and stuff and they want to spend trillions to fix it while Solar Panel plants are powered by coal plants think about that

03-08-2010, 01:40 PM	#3
Gateway69 Confirmed User Join Date: Jul 2002 Posts: 1,510	Yea I keep hearing that as well.. bit curious as to why.. __________________ Gateway - Tech Guru Dreaming Computers IG

03-08-2010, 02:30 PM	#4
Adraco Confirmed User Industry Role: Join Date: May 2009 Location: Onboard an airplane around the globe Posts: 3,740	Delaware has the most company friendly laws in the US and Nevada follows suite. Godaddy offers as a service to help you setup a LLC in any state you wish and they explain some and give a few good tips. But most everyone you'll talk to will say Delaware or Nevada. Link: http://www.godaddy.com/business/inco...-services.aspx __________________ ---------------------------------------------------------------------------------- The truth is not affected by the beliefs, or doubts, of the majority. Last edited by Adraco; 03-08-2010 at 02:40 PM..

03-08-2010, 02:39 PM	#5
candyflip Carpe Visio Industry Role: Join Date: Jul 2002 Location: New York Posts: 43,068	I did in my home state. It was pretty simple. Fill out a few forms. Write a check and send it in. All the details on what to do can be found using Google in about 5 minutes. __________________ Spend you some brain. Email Me

03-08-2010, 02:40 PM	#6
hypedough Confirmed User Join Date: Sep 2007 Location: Now running NATS4: HypeDough.com! Posts: 3,743	MyCorporation.com? or LegalZoom.com? Go for your home state unless you're looking for loopholes on taxes, I think Delaware is for that. __________________ Ricky D :: Hype Dough President \| XBIZ.net \| ICQ 172-939-826 AIM+Skype HypeDough \| [NATS4] Kayden420: ['09 '10 '11 XBIZ Nominee \| Exclusive & HD] \| ThePornScout: [Exclusive + Reality \| Amateurs Want to Become Pornstars]

03-08-2010, 02:42 PM	#7
shermo Guest Posts: n/a	Nevada and Delaware. The reason, is that neither has State Tax to pay, which saves you a nice chunk of change.

03-08-2010, 02:43 PM	#8
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,469	spain... __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

03-08-2010, 02:47 PM	#9
quantum-x Confirmed User Join Date: Feb 2002 Location: ICQ: 251425 Fr/Au/Ca Posts: 6,863	Dela.. where? __________________ PrettyInCash.com - BoozedGFs.com - TeenGFs.com - JizzGFs.com- MilfUploads.com -

03-08-2010, 03:07 PM	#12
TidalWave Confirmed User Industry Role: Join Date: Sep 2007 Location: Los Angeles Posts: 2,706	Delaware www.thedelawarecompany.com __________________ www.SwiftNode.com

03-08-2010, 03:33 PM	#13
ShellyCrash Confirmed User Join Date: Jun 2004 Location: Tampa Bay, FL Posts: 6,708	I hear Nevada is best because they have the loosest standards, can use po box as place of business, can have a registered agent, etc and no state taxes. FL is good too. I'm based out of here but I know alot of people try and set up through here almost as often as Nevada. FL has no state tax either, but from what I understand they require a physical location. __________________ Start making money with the hottest hookup site! up to $55 PPS or up to 75% Revshare ICQ 196766477

03-08-2010, 05:43 PM	#14
Klen Industry Role: Join Date: Aug 2006 Location: Little Vienna Posts: 32,235	Btw when you register Usa company(and you are not from usa)then you need to pay double taxes(your own country + usa)or just usa tax?

03-08-2010, 05:55 PM	#15
pornlaw Confirmed User Join Date: Feb 2007 Location: Los Angeles, CA Posts: 1,883	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. __________________ Michael www.AdultBizLaw.com

03-08-2010, 07:37 PM	#18
Dappz Confirmed User Join Date: Dec 2009 Posts: 997	ummmmmmmmmm i hard to make a legal business ;) __________________ Hentai Artist * Draw My Anime * HentaiLovers * hentaiG4H * ICQ : 657458

03-08-2010, 09:57 PM	#21
xxweekxx Confirmed User Join Date: Oct 2002 Posts: 6,780	what u guys talking about.. it doesnt matter if the state has no income tax.. you still get profits passed on to you, and you have to pay income tax in your home state.. Say you live in NY, but your delaware corp just profited $1mil for 2009, and you took all that money into your bank account.. you have to pay NY state taxes on your $1mil, as well as federal tax... incorporating in delaware doesnt absolve you of state tax on income, so I dont really see the advantages... __________________ _________________ I am the best

03-08-2010, 11:56 PM	#22
LAJ Gingerific Industry Role: Join Date: Jun 2001 Location: Austin Posts: 5,567	Nevada if you are west of the mississippi, Delaware if you are east. __________________ YNOT.com - The original industry resource email jay at ynot dot com or skype LAJConsulting

03-09-2010, 02:53 AM	#23
Voodoo ♥ ♦ ♣ ♠ Industry Role: Join Date: Sep 2002 Posts: 10,592	Delaware if you intend on issuing public stock or getting any mainstream VC / investors with a C-Corp. __________________ "I'm selflessly supporting the common good, but only coincidentally looking out for No.1."

03-09-2010, 03:02 AM	#24
Brujah Beer Money Baron Industry Role: Join Date: Jan 2001 Location: brujah / gmail Posts: 22,157	I don't see Wyoming mentioned, so you might look into that too. I don't remember why, but it was recommended to another guy I knew. __________________ Free Premium Domain Lists and Tools at Clickmojo.com For Sale: Obscenity.com

03-09-2010, 12:07 PM	#25
livecarlo Confirmed User Join Date: Jul 2009 Location: // ICQ 560-024-256 Posts: 123	To register in NV is pretty simple. You open a mailbox with MailLinkPlus or ForwardNevada who also provide registered agent service then download the form http://nvsos.gov/index.aspx?page=133 and send it back with a check. Once you're incorporated you do the paperwork for your federal and state tax ID and then you find a bank in NV to open your biz bank account. Most banks let you open accounts online if you have a credit history. You would also need to file for S-corp if you want your biz and personal earnings to be regarded as separate incomes. You also need to send your list of initial managers to NV with-in a month of incorporating. Most biz setup companies would do all that for around $700 __________________ Filipina Hardcore \\|/ Zombaio - Payment Processing at 4.9% \\|/ TrafficHolder.com - Buy/Sell Adult Traffic

03-09-2010, 12:17 PM	#26
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	wow, the lack of knowledge in this thread is hilarious... i can guarantee you that most small incorporated business have pierced the corporate veil by not running their corporations properly.. in general, there is more mis information about corporations as a result of people continuing to pass bad information around.. spend the extra money and go see an accountant or attorney when you set up your first corporation and you will learn everything you need to know.. and make sure they are versed in the state laws of the state you decide to incorporate in.. .

03-09-2010, 12:47 PM	#27
Kingfish Confirmed User Join Date: Sep 2002 Posts: 668	If you?re a U.S. resident the best place to start your LLC is the state you reside in, and here is why: 1. You will have to hire an agent in the other state to receive your official notices from the Secretary of State?s Office and court summons. This will probably cost a couple of hundred bucks a year. 2. If you LLC gets sued or if your LLC wants to sue somebody you will have to travel to that state to defend yourself or file suit. 3. As far as avoiding state income taxes if you register in Nevada or Delaware that won?t really work if you actually operate your business out of another state in the U.S. If you have a physical presence in another state you?re a required to file a foreign corporation notice with your home state?s Secretary of State?s office. That will trigger state taxation. Nowadays it?s very hard to get by not doing this because if you want to open a bank account for the LLC in your home state the bank will require this. Furthermore, since we are talking about an LLC rather than an INC most people chose to have their LLC treated as a partnership meaning that the LLC doesn?t pay any income taxes anyway, but the taxation passes on to the partners and wherever they actually reside will control the taxation rate. Keep in mind partnership LLCs are still required to file a tax return in the state they are organized in so you?re probably just creating extra paperwork and costs for yourself by incorporating in a state other than the one you live in. BTW: In most cases your state?s secretary of state?s office will provide everything you need to start an LLC in your home state so there is no need to pay one of those services to do it for you. Last edited by Kingfish; 03-09-2010 at 12:49 PM..

03-09-2010, 12:52 PM	#28
Kingfish Confirmed User Join Date: Sep 2002 Posts: 668	pornlaw beat me to the punch lol