Right now my LLC is located in California. After paying an immense amount in Taxes to California, we are deciding to move it to Nevada.
We have family there, so we feel that it is a great move.
With that said, I understand that the process is as such:
1) Close the LLC (in California)
2) Pay Taxes on that LLC (As in, pay taxes all the way from Jan 2010 to - June 2010)
3) Re-open it in another state (Nevada)
Can anyone elaborate in more details on how this works? Are these steps correct? Do I pay taxes after I close my LLC? We'd prefer to do away with the taxes for California immediately. You don't need to be a resident of Nevada to open an LLC there, correct?
We travel constantly back and fourth from California to Nevada, so can anyone also go into further detail(s) on the pros vs. cons between the two?