opening a corp In another state?

[Ricardo Montes]

Is it a good idea to open a corporation in another state, say Nevada? For tax benefits because opening in Chicago would be too expensive.?

[Account Closed]

Have you determined that you need a corporation?

If so, the answer to your question depends on why you need this corporation.

Start at the end and work backwards.

What is the ultimate goal that you want to achieve?

[Jeff B.]

The typical approach is {Nevada, Delaware, Montana} for various tax reasons.  THEN you Foreign File in the State(s) where you will do business under that name.

[Crystal Smith]

Originally posted by @Ricardo Montes:
Is it a good idea to open a corporation in another state, say Nevada? For tax benefits because opening in Chicago would be too expensive.?

 If you own a corp in another state ,but do business in Illinois,you will have to file your corp with the state of Illinois as a Foreign Corporation.  You should check the cost for foreign filing added to your Nevada corp, then decide which is more cost effective.  This includes the tax benefits because you're Nevada corp may still have to pay taxes in Illinois.

[Ricardo Montes]

Thank you all. I will continue my research