sounds awesome with that heavy tax, and lots of compliance red tape, but would I be able to pay more tax somewhere such as California?
Wyoming, Delaware or New Mexico, please tell me what's your choice?
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sounds awesome with that heavy tax, and lots of compliance red tape, but would I be able to pay more tax somewhere such as California?
joffreylol
Active Member
I miss xzars / tax cow. He gave valuable insight and had a great sense of humor. Hope he is alive
Hello,
I need 2 companies to use as a partner for a UK LLP, to have a better chance of opening a bank account for the UK LLP, which option is the best to use?
1. Two NewMexico
2. Two Wyoming
3. WY + NM
I need 2 companies to use as a partner for a UK LLP, to have a better chance of opening a bank account for the UK LLP, which option is the best to use?
1. Two NewMexico
2. Two Wyoming
3. WY + NM
long time since he was only here the lat, you may have tagged him - oh I see not possible!I miss xzars / tax cow. He gave valuable insight and had a great sense of humor. Hope he is alive
would go for a mix with New Mexico and Wyoming!
This
www.offshorecorptalk.com
seemed like one of the best replies about pros and cons of those famous LLCs. I have found 4 comparison images on the web (to be handled with care I guess!), which I have compiled into this:
Some questions:
1. What about those taxes Delaware seems to have (1-A to 1-C)? Do they not apply to Non-Resident Aliens?
2. Wyoming seems to give you more privacy, sharing less than Delaware with the respective state authorities (2-D to 2-G). Isn't 2-F given away by form 5472 in any case?
3. Was probably bad wording from one of the sources, but Wyoming seems to give you an extra year of proper privacy (3-A and 3-B)?
4. The 3 of the 4 sources used had Nevada too, and 5-D seemed to put both DE and WY in a bette rplace than Nevada. But by many accounts, WY is still far from great about getting somebody to open a bank account for you as a NRA...
I appreciate any further inputs. @Tax Cow @starfleetio
Wyoming, Delaware or New Mexico, please tell me what's your choice?
I want to know what your choice is and why you prefer one over the other. Personally I know Delware and Wyoming and figured out to suck all benefits out of these states in regards to tax reduction, company setup and banking. Wat is your opinion about these three tax havens ?
www.offshorecorptalk.com
Some questions:
1. What about those taxes Delaware seems to have (1-A to 1-C)? Do they not apply to Non-Resident Aliens?
2. Wyoming seems to give you more privacy, sharing less than Delaware with the respective state authorities (2-D to 2-G). Isn't 2-F given away by form 5472 in any case?
3. Was probably bad wording from one of the sources, but Wyoming seems to give you an extra year of proper privacy (3-A and 3-B)?
4. The 3 of the 4 sources used had Nevada too, and 5-D seemed to put both DE and WY in a bette rplace than Nevada. But by many accounts, WY is still far from great about getting somebody to open a bank account for you as a NRA...
I appreciate any further inputs. @Tax Cow @starfleetio
Attachments
I wanted to tag @startfleetio but I misspelled the name and now I can't edit that post anymore.
For the record, I collated from the four similar tables at these links
origin-x.legal
For the record, I collated from the four similar tables at these links
What’s the difference between an LLC in Delaware, Wyoming, and Nevada and which is the best choice for a German (Berlin-based) start-up?
Answer (1 of 4): In general, Delaware, through its developed legal system and laws protecting shareholder rights, is geared toward the large complex public corporations, whereas Nevada and Wyoming are more attractive to the small privately held corporations and LLCs. Delaware law tends to protect...
www.quora.com
Is the Best Place to Incorporate My LLC Delaware or Wyoming? - Origin X Legal
When it's time to incorporate your LLC, you want to ensure you choose the right location. Consider these factors when choosing between Delaware and Wyoming.
origin-x.legal
startfleetio
Mentor Group Gold
Very nice compilation.I wanted to tag @startfleetio but I misspelled the name and now I can't edit that post anymore.
For the record, I collated from the four similar tables at these links
What’s the difference between an LLC in Delaware, Wyoming, and Nevada and which is the best choice for a German (Berlin-based) start-up?
Answer (1 of 4): In general, Delaware, through its developed legal system and laws protecting shareholder rights, is geared toward the large complex public corporations, whereas Nevada and Wyoming are more attractive to the small privately held corporations and LLCs. Delaware law tends to protect...www.quora.com
Is the Best Place to Incorporate My LLC Delaware or Wyoming? - Origin X Legal
When it's time to incorporate your LLC, you want to ensure you choose the right location. Consider these factors when choosing between Delaware and Wyoming.
We actually wrote one too. You can read it at
Best US States for Foreigners (Non-Residents) To Form an LLC
A detailed comparison of the most popular US states for non-US residents to incorporate their US companies.
startfleet.io
startfleetio
Mentor Group Gold
@Asterion
Just realized I didn't answer your questions:
1. What about those taxes Delaware seems to have (1-A to 1-C)? Do they not apply to Non-Resident Aliens?
If you do not trigger state nexus 1B and 1C do not apply to you. 1A is actually Delaware's version of Annual Report Fee, which is collected by other states. The Franchise tax for DE LLC is $300 every year.
2. Wyoming seems to give you more privacy, sharing less than Delaware with the respective state authorities (2-D to 2-G). Isn't 2-F given away by form 5472 in any case?
You got 2D 2E wrong, it is not listed in DE state records.
As for 2G, i honestly don't know the question to this. but I assume both states could be possible.
Form 5472 will expose you anyway to the IRS, if your sole objective is to run away from IRS, its pretty impossible.
3. Was probably bad wording from one of the sources, but Wyoming seems to give you an extra year of proper privacy (3-A and 3-B)?
No it is not an extra year. It is because Delaware has a fixed date for annual report (franchise tax) for all LLCs, regardless when you are registered. But for Wyoming LLCs, your annual report is due at the month next year of your formation month. e.g. you registered an LLC on 15th of June 2022, your annual report deadline is 1st of June 2023
4. The 3 of the 4 sources used had Nevada too, and 5-D seemed to put both DE and WY in a bette rplace than Nevada. But by many accounts, WY is still far from great about getting somebody to open a bank account for you as a NRA...
Forget about Nevada. Just pick Wyoming unless you want to convert your LLC to a C-Corporation to raise VC investments, then you pick Delaware.
Just realized I didn't answer your questions:
1. What about those taxes Delaware seems to have (1-A to 1-C)? Do they not apply to Non-Resident Aliens?
If you do not trigger state nexus 1B and 1C do not apply to you. 1A is actually Delaware's version of Annual Report Fee, which is collected by other states. The Franchise tax for DE LLC is $300 every year.
2. Wyoming seems to give you more privacy, sharing less than Delaware with the respective state authorities (2-D to 2-G). Isn't 2-F given away by form 5472 in any case?
You got 2D 2E wrong, it is not listed in DE state records.
As for 2G, i honestly don't know the question to this. but I assume both states could be possible.
Form 5472 will expose you anyway to the IRS, if your sole objective is to run away from IRS, its pretty impossible.
3. Was probably bad wording from one of the sources, but Wyoming seems to give you an extra year of proper privacy (3-A and 3-B)?
No it is not an extra year. It is because Delaware has a fixed date for annual report (franchise tax) for all LLCs, regardless when you are registered. But for Wyoming LLCs, your annual report is due at the month next year of your formation month. e.g. you registered an LLC on 15th of June 2022, your annual report deadline is 1st of June 2023
4. The 3 of the 4 sources used had Nevada too, and 5-D seemed to put both DE and WY in a bette rplace than Nevada. But by many accounts, WY is still far from great about getting somebody to open a bank account for you as a NRA...
Forget about Nevada. Just pick Wyoming unless you want to convert your LLC to a C-Corporation to raise VC investments, then you pick Delaware.
lory
Mentor Group Gold
I have an Wyoming entity which I registered a few years ago, has been working well and without tax issues together with mercury bank.
startfleetio
Mentor Group Gold
Yep Wyoming is the de facto state for all non-us residents
SoNewToAllShit
Mentor Group Gold
Why do you say that if I may ask? I would like to know what make it better compared to Delaware?
startfleetio
Mentor Group Gold
wrote an article here
startfleet.io
Best US States for Foreigners (Non-Residents) To Form an LLC
A detailed comparison of the most popular US states for non-US residents to incorporate their US companies.
startfleet.io
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