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*~*Lady_bug*~$ | what's the best state to start a corperation? |
I am interested and starting up my own business. I will be the only owner. It will be a small business. What is the best state to place and get my corperation. I hear some state are better then others and don't have sales tax and other tax fees.
Also is the a good company who can set it all up for me. A company that does all the paperwork.
thnk you for reading. Any information about corporations would be helpful.
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it will be strictly local, for the mean time. |
 |
 
Marc
 |
Greetings:
For a small business just starting up, you'd most likely be best to simply establish a corporation in your own home state. You'd likely find the additional costs in establishing a corporation in another state would outweigh any real savings. Businesses that are most concerned with which state to incorporate in are those that do business in multiple states and are concerned about which states will charge less income tax and how to allocate as much of their income as possible to these lower-tax states.
Let me know if you need assistance in establishing a new corporation. We do this in all states and can let you know the costs involved (this varies from state to state). We specialize in new business start ups and we'd be pleased to be of assistance.
For a new start up business, just set up a corporation in your own home state.
You can contact us directly at Brimstone Hill Tax Consulting Inc. (519-419-2153) or email me directly at marclovell@yahoo.com
Thanks, and I look forward to hearing from you! |
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titu
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Generally in India ,The CA or CPA does all the paper work .But it is not always advisable to start corporate at very first step.Corporation needs atleast two people & they have annual reporting requirements like Balancesheets ,Audits,etc ,so it cost a lot of money .Better is start sole proprietorship and once you become big ,then convert it into Company.
Do COST BENEFIT ANALYSIS |
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ibu guru
 |
It's not as simple as that! Your biz needs to be registered in the state(s) where you operate. Delaware is very popular for incorporation since there are tax considerations. Nevada also has some advantages. However, incorporation involves legal work and legal obligations, including a registered agent in the state where you are incorporated, plus registration as a foreign corporation if your out-of-state (e.g. Delaware or Nevada) corporation does business in another state (e.g. California).
You probably need to consider setting up an LLC rather than a corporation, since you are the sole owner. Are you going to have offices & operations in many states, or is it a type of business that will be strictly local?
You have two choices: hire an attorney for expert advice, or do a lot of homework. Suggest you do homework first! You still might need an attorney, but at least you and the attorney can discuss things rationally and settle things more quickly once you know what you're doing and what you need to discuss!
Go the library. There will be shelves & shelves of books to study on starting a small business, incorporation, forming LLCs, tax matters, business management for various types of businesses, etc. Start reading!
No company or attorney can do a business formation until you know what you want and plan to do, how you intend to do it and where. And you don't know what questions to ask or what to look for until you study up. Head for the library. |
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Fareeda
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Nevada is the easier state and then Wyoming. But it depends on what state you are in. These states are basically good for people who live in hard corporation states like New York and California. For example other states are easy if you are a resident, but hard if your not. There are also some issues as to what corporation you want to start. Wyoming requires 3 people to form a Not For Profit corporation, while it is easier to form a Profit corporation with 1 person. Nevada requires 1 person for a Not For Profit, but has a harder Profit than Wyoming. Also Delaware is easier only for a C corporation and not for a S corporation compared to Nevada and Wyoming.
Basically if you want a state that will give you the least problems, then Nevada. If you want the cheapest, then Wyoming. Delaware keeps changing it's rules and no one knows exactly what to expect these days. |
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marie
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If you will be running your business in California, you will still have to pay California sales and income tax. You can't avoid it by incorporating in another state. For a small business, California is probably best. |
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