Best state to incorporate

[alexlev]

I've searched and searched but can't seem to find this topic anywhere on this site. So...

 

Can anyone tell me what they feel is the best state for incorporating? I've heard Delaware and Nevada are two good locations to incorporate. And recently Wyoming has been popping up a lot. But are any of these states really any better than your "home" state? And if they are, why?

 

Thanks

 

PS - I'm in NY

[Rob]

Nevada!!!

[OhBoyOhBoy]

Nevada!!!

 

Not AnyMore!! Read more posts here you will see...

[Hope]

Nevada!!!

 

NOT!!! That advantage went the way of the dodo bird this past year.

[alexlev]

Okay, so why not Nevada? I've looked around this site, but I haven't seen anything negative about incorporating there. So what's the big change that's suddenly made Nevada so unattractive?

[OhBoyOhBoy]

Each state has pros and cons for sure. Tho' I have heard and read that Delaware, hands down, is the best state to start a business in. Links all over the net give reasons for this. Where I will direct interested parties because I am no expert. Keywords: Delaware AND incorporation, registered agent, business mail, business taxes, tax breaks, the list goes on....  

 

Re: Banking...Nevada is written about as keeping accounts private no matter who is asking unless there is a court order demanding otherwise. This is for individuals but not sure of the exact guidelines for businesses.

[OhBoyOhBoy]

I spoke recently with my accountant - here in California he recommended a S Corp over the C Corp and LLC....and he said its no longer a big benefit to incorporate in Nevada.  

 

Also, a big problem is that since the bulk of my business is done here in LA it is said that my 'nexus' (correct term?) is in California. therefore, i owe CA income tax even if incoporated in Nevada.  

 

my accountant will handle the creation of the corp. for around $1100 - he said i can do it myself for around $300-$500....but i don't want to try and figure out all the intracies myself so i'll get him to do it....

[alexlev]

Thanks for that. A CA accountant who is heavily involved in REI told me recently that Delaware was the state if you wanted to eventually go public. Nevada was the state if your primary goal was asset protection. If this has changed, would Wyoming now be a better choice? There seem to be an awful lot of companies promoting Wyoming corporations.