Nevada and Deleware

[Chris Luksha]

Lately a bunch of different avenues I have been looking at beside BP have been throwing out the idea of starting an LLC in Nevada, or creating trusts in Nevada or Delaware but don't explain why it is supposedly so much better.

Why is this a thing?

Thanks again everyone.

Chris

[David Dachtera]

@Chris,

If you're doing business in those states, their law regarding certain business entities are quite favorable.

Trouble is, if you have a NV LLC, for example, but you're doing business in TX, guess what? Your deal is governed by the laws of the State of Texas, not Nevada. So, you don't really get all the benefits touted for those states which are favorable.

Check with your tax accountant / attorney. They will give you all the gory details.