Setting up an LLC -- California vs. Nevada questions.
For anyone who might know, what are the differences in fees and requirements in setting up an LLC in California vs. setting up one in Nevada?
I'm planning on two LLCs -- one which will belong to me alone and be long-term, and one which will be for a temporary (one to two year) project and include several other people, all of whom now reside in Nevada. I'm the only one in this group left in California until I make a permanent move to Nevada. So I'm not sure if I should start the one which will be mine alone in California or Nevada. In some ways, it seems it might be easier if I just "write off" the California market completely and only seek clients for this business in Nevada!
From what I have already researched, California apparently wants $800.00 towards taxes within three months of your initial filing to start the LLC (in addition to your filing and incidental fees) -- as far as I know, you would have to actually earn a profit from your LLC in Nevada before being concerned with anything other than filing and incidental fees. This is what I understand from what I've researched so far, but would like to verify this if anyone here has more knowledge about the requirements in either one or both of these states. Thanks!
Re: Setting up an LLC -- California vs. Nevada questions.
I have heard repeatedly that Nevada is better for small business owners than California. Not sure why though. Based on your post, I would go with Nevada, but obviously you should talk to somebody who knows more about it than me!
Re: Setting up an LLC -- California vs. Nevada questions.
If your ONLY choice is between Nevada and California - I would inc in Nevada and set up a DBA in California.
California is just horrible for businesses. I would not be surprised if most of the companies in CA are actually incorporated else where.
Re: Setting up an LLC -- California vs. Nevada questions.
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Originally Posted by Yekhefah
I have heard repeatedly that Nevada is better for small business owners than California.
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Originally Posted by Deogol
California is just horrible for businesses. I would not be surprised if most of the companies in CA are actually incorporated else where.
It's true, among other things, California is extremely aggressive when it comes to taxes, just avoid it.