What is the advantage of a Nevada LLC?

Advantages of Forming a Nevada LLC Nevada LLCs are not subject to taxation on corporate shares or stock transfer; the state has no franchise, gift, business and occupation, inventory, or personal income tax. Payroll tax is equal to 0.7 percent of gross wages.

Do Nevada LLC pay taxes?

Nevada is one of only a very few states that does not have a personal income tax or a corporation income tax. Moreover, because Nevada also doesn’t have a personal income tax, LLC members generally will owe no state tax on income they earn from a Nevada LLC.

Do Delaware LLC pay taxes?

This means that the LLC itself does not pay taxes and does not have to file a return with the State of Delaware. As the sole member of your LLC, you must report all profits (or losses) of the LLC on Schedule C and submit it with your Delaware personal income tax return (Form 200).

How much does a Nevada LLC cost?

Nevada LLC Costs. The ongoing cost of a Nevada LLC is $150 fee and the Initial List of Managers or Managing Members, as well as a $200 fee and a Business License Application, are due within 30 days of formation. There is no state income tax for Nevada LLC.

What does LLC mean in Delaware?

A Delaware LLC (aka Delaware limited liability company) is a type of business entity that is created by filing the proper Certificate of Formation with the Delaware Secretary of State . Why form a Delaware LLC? A Delaware LLC is an extremely flexible business entity with low start-up costs and an affordable Franchise Tax.

How do you create a LLC in Nevada?

Forming an LLC in Nevada is easy Name your Nevada LLC. Choosing a company name is the first and most important step of starting an LLC in Nevada. Choose a Registered Agent in Nevada. You are required to nominate a Nevada registered agent for your LLC. File the Nevada LLC Articles of Organization. Create a Nevada LLC Operating Agreement. Get a Nevada LLC EIN.

What is the division of corporations in Delaware?

Delaware Division of Corporations. The Delaware Division of Corporations is the state agency that handles all franchise (corporation) tax payments and annual report filings that are due March 1 each year. They also collect the LLC tax that is due June 1 each year. Helpful State of Delaware, Division of Corporations links: