New business owners often ask me that question and, unfortunately, it cannot be answered with a simple yes or no. It begins when business owners hear about lower taxes and fees in other states and start to wonder if they can take advantage of that business-friendly atmosphere, even though they don’t technically do business in that state. Forming an LLC or incorporating turns a business into its own legal entity, separate from you, and it can be formed anywhere within the United States. But it isn’t simply a matter of paying Nevada to incorporate within their state, and then continuing to do business in California while only paying Nevada taxes and fees. Before you decide to form a business entity in another state, consider the following three points.
As we’ve all heard, when it comes to the definition of entrepreneurship, there are varying definitions of what this term really means. Some experts think of entrepreneurs as people who are willing to take risks that other people are not. Others define them as people who start and build successful businesses. According to the Small Business Administration (2013), an entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. An entrepreneur: Sees an opportunity. Makes a plan. Starts the business. Manages the business. Receives the profits.
By: Deborah Sweeney, CEO of MyCorporation.com Back in 2010, Assistant Professor of Law Rodney D. Chrisman published ‘LLCs are the New King of the Hill,’ a groundbreaking study on the popularity and growth of the limited liability company, in the Fordham Journal of Corporate and Financial Law. The LLC structure is relatively novel in the […]
by Deborah Sweeney, CEO of MyCorporation.com Ready to start up a restaurant or food truck this summer? Before you begin exploring empty lots and scouring the streets for high foot traffic areas in an attempt to find the perfect location for your new eatery, independently owned and small chain restaurants must look into what type […]
by Melissa Stewart My grandmother was recently diagnosed with cancer. This post is not about cancer. A brief conversation last night as I was leaving her house triggered this post. My granny said “My teeth need some work but I’d hate to spend all that money on dental work if I’m not going to be […]
There are tens of thousands, if not hundreds of thousands of people making money by blogging today. Some make money by getting paid as freelancers to write on other people’s blogs, while others make money by having their own blog. Both methods pay enough that people can earn a full time income with them. Here’s […]