Yes, there are corporate taxes and income taxes. One of the benefits of a NV corp is state tax or filing relief for the corporation itself: http://en.wikipedia.org/wiki/Nevada_corporation
There are some costs associated with a NV corp, but some benefits may interest you. --Dan On Wed, Jun 17, 2009 at 2:05 PM, Matt Aimonetti <[email protected]>wrote: > Your taxes will not depend on what state your LLC or S-Corp is in, since > both are "pass-through" vehicles, and just hand the income to you to pay > taxes on. Shopping among states for better tax treatment is for larger > corporations. > > I don't believe that's exactly correct when it comes to an S-Corp. I don't > deal with that part of our business, so don't quote me on that, but when I > filed my personal tax, I only paid income tax on my income. (what I gave > myself as a salary) The rest is dealt at the business level. > > - Matt > > > > On Wed, Jun 17, 2009 at 1:51 PM, Scott Olmsted <[email protected]> wrote: > >> At 01:19 PM 6/17/2009, you wrote: >> >> A couple thoughts related to 1 & 4: >> >> You can still maintain full control with the LLC, but you gain all the >> benefits of being incorporated. If you are thinking about getting a lawyer >> involved, that means you are trying to protect yourself. With the LLC, you >> mitigate personal risk associated with the business. >> >> You should look at setting up shop in Nevada. Just get a PO box in LV. >> >> >> Having a Nevada presence requires more than a PO Box, but there are >> companies that will supply what you might want for relatively little. >> >> On the other hand, I don't see any advantage. To do business in >> California, you still have to register your Nevada LLC here and pay the $800 >> annual corporate fee. Might as well just set up a California LLC. It's very >> standard these days. I set up one of the first LLC's in California about >> 1994 and I had to educate banks, county personnel, city clerks, just about >> everyone about just what this LLC thing was. You can get create the >> paperwork you need from books (see Nolo.com), or even from what you find >> online. >> >> An alternative is an S-Corp, there are pros and cons you can find online. >> I think the S-Corp pays lower fees when the gross gets big enough >> ($250,000/yr? $500,000/yr?). I like LLC's because it's so easy to do it all >> yourself, though follow-through with all the steps is important. >> >> Your taxes will not depend on what state your LLC or S-Corp is in, since >> both are "pass-through" vehicles, and just hand the income to you to pay >> taxes on. Shopping among states for better tax treatment is for larger >> corporations. >> >> If you do your books in Quickbooks and your taxes in Turbotax for >> Business, you might never need an accountant, just a bookkeeper, perhaps. >> But get tax advice if you think you need it. >> >> The LLC may give you a little more clout than being a sole proprietor, but >> no one should fool themselves into thinking it represents any sort of real >> protection. If someone wants to sue you, they'll sue your LLC or corporation >> and name you personally in the suit as well. Your attorney can argue to have >> you taken off if you've done things correctly, maintained separate books, >> not mingled personal funds or expenses in there, kept up with what you owe >> the state, etc, but being sued will still cost you, win or lose. >> >> You may want to read up on trademarks at Nolo.com . >> >> Keep asking questions and doing your own research. Asking lawyers is a >> very expensive way to learn and letting them do work you can do is even more >> expensive. Make what seems the best detailed plan you can, including writing >> your own contracts, and then run it all by an attorney in an hour or two and >> let him tell you where it needs fixing. That will keep you out of trouble >> and save you a bundle. That's how attorneys are best used, to keep you out >> of trouble in the first place, and that shouldn't cost very much if you >> prepare. >> >> Scott >> >> P.S. +1 on avoiding employees. You can get almost anything done by a >> contractor. Just follow the rules that keep contractors from being >> classified as employees. But if you have something where someone has to show >> up every day for at least a few hours, you may find hiring an employee >> cheaper. Just plan on them quitting at the worst possible time. >> >> >> Try to avoid employees as long as possible, then you can avoid >> accountants. You should be able to find consultants that charge a bit more, >> but it's a good thing for you. >> >> -- >> >> 2 & 3 >> >> Not sure about the trademarks... What's insurance? Be risk adverse. >> >> --Dan >> >> On Wed, Jun 17, 2009 at 1:07 PM, Erik Pukinskis <[email protected]> >> wrote: Hey friends, >> I am starting a little web business, and since I've started interacting >> with customers it's time for me to legally get off the ground. >> Unfortunately, I don't have any expertise with this, beyond what I've >> learned from teh internets, and I could use some help. >> First, can anyone recommend a good, affordable, web-savvy San Diego small >> business lawyer? And an accountant? >> Otherwise, does anyone know anything about these things.... >> 1) Should I file for my permits in CA or in somewhere with nicer tax laws, >> like Delaware? If I and my employees are working from San Diego, does >> that just mean I have to register as a business here? With city, county, >> etc? >> 2) What international trademark classes do people use for the trademarks >> for web business? My site is providing instructional materials, but I'm >> also mailing people products and printed guides. I'll be building an >> iPhone app too. Should I just drop $1200 and cover all my bases, or can >> I get by with a trademark under one $300 class? >> 3) What do people recommend for business insurance? And where do you get >> it? >> 4) I'm leaning towards a Sole Proprietorship, since I want to maintain full >> control and I think the liability will be minimal. Has anyone done >> this? Are there any pitfalls? Should I look more closely at an LLC? >> It seems like I'm definitely going to need a lawyer soon enough, but maybe >> I can get by for a while without it. I'm supporting the business out of >> pocket and am trying to keep expenses to a minimum. >> Love, Erik >> >> >> >> >> >> >> > > > > --~--~---------~--~----~------------~-------~--~----~ SD Ruby mailing list [email protected] http://groups.google.com/group/sdruby -~----------~----~----~----~------~----~------~--~---
