Legal Question in Business Law in Florida

Re: What is the best state to form an LLC in

Frpm a purely legal standpoint, one state is as good as another for purposes of organizing your LLC. As to your tax question that is best directed to a CPA or anj attorney that specializes in tax planning. I do not give tax advice, but advise my clients to seek counsel with a competent CPA. For more info., please contact my office at (248)851-3171.

Re: What is the best state to form an LLC in

Since you will be doing business in Florida, you will have to file here anyway. An LLC here is as good as anywhere.

Re: What is the best state to form an LLC in

Florida is most likely your best choice since you will be doing business here and employing people here. However, you can set up a company in Michigan and register as a foreign corp. doing business in Florida. No matter where the corp. is set up you will have to register it here in Florida. Deleware usually has the most favorable corporate case law if there is a concern about litigation and liability. I am not sure registering in Nevada will help reduce your taxes, since you are doing business in Florida you will still be subject to all state tax laws and all other state regulations of Florida, no matter where you are registered.

Re: What is the best state to form an LLC in

Its sound to me like the best state for your entity is Florida. A corp is your best option if you do not want to employ persons and have them as employees instead of independent contractors. Will there be a mortgage on the property and if so who will be making that payments? That is another consideration to make when you decide where to form the LLC or corp. You are also going to need a registered agent in Florida.

I would not advise forming any entities in Nevada if your entity does not have a substantial connection with that state. I dont believe it makes any difference to the IRS where you are incorporated when it comes to taxes but you may want to check with your CPA on that one. I do know that Nevada charges yearly corporate registeration fees just like any other state.

There are a lot of factors to consider when deciding on a corp or LLC, talking to a CPA may help you in your decision too.

If I can be of help in the process please give me a call at 877-891-8152. Beth Clause, Esq.