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In the book (LLCs For Dummies) you mention to create a corporation in a tax-free state to create an LLC partnership, what type of corporation is best for that, an S Corporation?
If you are looking to save on taxes by utilizing a tax haven such as Nevada or Wyoming, then you should use a c-corporation. Otherwise, if you were to do an s-corporation, the profits will flow directly to you and you will end up paying personal taxes according to the tax rate in the state you live in. I hope this helps you!
What is your first step? Simply choose which of the following two options applies to your business:ALREADY INCORPORATED in the state of Nevada? 2015/08/15 - Your annual fees increased from $325 to $650, and that’s not including the Commerce Tax if it applies to your business! Further, you will now be required to file your tax return with the NV Department of Taxation with June 30th as the fiscal year, not the calendar year! Review these changes with your tax advisor immediately! If you choose to re-domicile your corporation in another state, MyLLC will file the re-domestication paperwork for you!
MyLLC is committed to assisting you in this process but you must contact us today!Call us toll free at 888.88.MYLLC or fill out the contact form so one of our experts can help you.