Updated over 6 years ago on .
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What States are you starting your LLC's in?
Hi BP,
I'd love to get this thread started.
What are the best practices/ strategies to starting LLCs in the most tax "beneficial" states for their businesses?
Why or why not? Great question to accountants .
What states are the best ?
Look forward to seeing any feedback.
Happy wealth building.
- Cassidy Burns
- [email protected]
- 540-960-1507
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What kind of LLC are you talking about?
An LLC is a legal entity that has nothing to do with taxes.
Your LLC per se is non existent for the IRS. You can choose different status. If it is a single member, then by default it will be disregarded by the IRS unless you elect to have it taxed as an S or C corp.
If it is a multi members LLC it will be by default seen as a partnership, unless you elect to have it taxed as an S or C Corp.
Depending on the status you choose, your state tax treatment will be different too...