Question by phaty_bo_batty_jp: where to start an LLC for an online business?
Ok, here’s a tricky question, I’m military stationed in Germany and would like to start an exclusively online business. I know in order to properly start it for tax purposes it would be best for form an LLC, but what state should I apply in for it? It won’t be selling or shipping any products in a specific state and I won’t be a living in a state for the next few years. Any advice???
Best answer:
Answer by Frank M
QUESTION:
Where to start an LLC for an online business?
My suggestion would be to incorporate in the state of Nevada.
Why Nevada?
# No Corporate Income Tax
# No Taxes on Corporate Shares
# No Franchise Tax
# No Personal Income Tax
# No I.R.S. Information Sharing Agreement
# Nominal Annual Fees
# Minimal Reporting and Disclosure Requirements
# Stockholders are not Public Record
# Stockholders, directors and officers need not live or hold meetings in Nevada, or even be U.S. Citizens.
# Directors need not be Stockholders .
# Officers and directors of a Nevada corporation can be protected from any personal liability for lawful acts of the corporation.
# Nevada corporations may purchase, hold, sell or transfer shares of its own stock.
# Nevada corporations may issue stock for capital, services, personal property, or real estate, including leases and options. The directors determine the value of any of these transactions, and their decision is final.
# Piercing of the Corporate Veil does not happen in Nevada as it does in other states.
# A Nevada corporation may be formed for the sole purpose of limiting a person’s liability in any lawful business venture.
I’ve included a couple of links to websites you could register a LLC.
Know better? Leave your own answer in the comments!