What is the best state to form a new corporation (LLC or S Corp)

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TrustBuilder

posts: 77

Mar 07, 2009 7:54 AM ET Quote Report Abuse

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In light of the growing anti-business climate in the U.S. what is the best state to incorporate in? I am currently in NJ and several accountants have advised me to incorporate anywhere else! Our business is Internet based and will have clients in every state.

Thanks,

Andrew

mfackrell

posts: 227

Mar 07, 2009 9:20 AM ET Quote Report Abuse

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delaware, it`s close, generally known to have favorable corporate laws, and its not NJ

robertj

posts: 1461

Mar 07, 2009 10:28 AM ET Quote Report Abuse

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Andrew,

While Delaware is the "grand daddy" of them all - there are others including Nevada and of late Wyoming who have laws and regulations more favorable to corporations.

Generally, if its a small business and likely to stay private - the State in which you live will probably be "optimum".

The best choice for you would ultimately depend upon what you want to accomplish.

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nevadascul

posts: 651

Mar 07, 2009 5:19 PM ET Quote Report Abuse

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I have to go along with Nevada. The state has structured its laws to encourage business development. But, the state is moving towards tighter laws governing business, especially given some recent scandal`s.

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pepperlegal

posts: 153

Mar 08, 2009 7:26 AM ET Quote Report Abuse

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Have you conclusively determined that forming a corporation is your best bet, versus a LLC, for example? The latter is far simpler to administer, and depending upon your situation, may carry tax benefits.

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ELisa

posts: 34

Mar 14, 2009 1:19 AM ET Quote Report Abuse

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Texas is still a business friendly state.

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Jynell

posts: 19

Mar 14, 2009 12:07 PM ET Quote Report Abuse

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Depends upon the type of your corporation entity. However, of course, Delaware is the prime state for "C" Corporations. Nevada is the best as to no corporate tax whatsoever. For a list of where to file and incorporate in a number of states, please reference a Secretary of State Index at www.innoventum.com. This is a site with a number of helpful free business resources.

gregmetro

posts: 40

Jul 20, 2009 3:30 PM ET Quote Report Abuse

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This is really going to depend on the type of business you plan on conducting. Most web based companies will file out of tax friendly states like Wyoming or Nevada (check your state, you may be living in a state that has small annual fees) The foreign qualify in the state they either open offices in and/or hire employees in.

You can also read http://www.myllc.com/which-state-to-form-llc.aspx this article was written by the author of LLC for Dummies.

infinique

posts: 145

May 16, 2010 12:41 PM ET Quote Report Abuse

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It all depends on what kind of business you're running. I think Washington is a wonderful place for startups.

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RomRomTM

posts: 1

Jan 05, 2011 6:13 PM ET Quote Report Abuse

Points: 1 Vote

I would say that either Nevada Or Wyoming would be your best choices and of course this all depends on what type of business you are looking for

Kyle G.

www.Socalcarpetcleaners.com

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