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JerrySJD, Attorney
Category: Business Law
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Experience:  Attorney for business formation, business sales, tax, partnerships, sole proprietors and buy/sell agreements.
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Comparing New Jersey to Delaware regarding an LLC, is it better

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Comparing New Jersey to Delaware regarding an LLC, is it better for someone who lives in NJ to open an LLC in Delaware? The benefits of Delaware appear to be better when comparing the expense & tax benefits. Do you agree?
Thank you.
W
Submitted: 5 years ago.
Category: Business Law
Expert:  Fran-mod replied 5 years ago.
Hi, I’m a moderator for this topic and I wonder whether you’re still waiting for an answer. If you are, please let me know and I will do my best to find an Expert to assist you right away. If not, feel free to let me know and I will cancel this question for you. Thank you!
Customer: replied 5 years ago.
Yes, I'm still waiting for an answer. Please assist me in finding an answer.
Thank you.
W
Expert:  Fran-mod replied 5 years ago.
Sometimes, finding the right Expert can take a little longer than expected and we thank you greatly for your understanding. We’ll be in touch again shortly.
Customer: replied 5 years ago.
Thank you Fran.
W
Expert:  JerrySJD replied 5 years ago.

Yes and no. Delaware is an excellent jurisdiction as the law is highly developed and it is company friendly. You will, however, need to pay for a local agent for service of process (about $250), plus the annual fee (about $100). You will also have to register in NJ and pay NJ taxes even though you are a DE LLC, if you are doing business in NJ.

 

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Customer: replied 5 years ago.
So if I'm reading your answer correctly, Since I live in NJ, I would still have to register for an LLC in Jersey?
W
Expert:  JerrySJD replied 5 years ago.
Sort of. You have to register the DE LLC with NJ. This is not the same as forming a new NJ LLC. It is registering to do business in NJ. DE LLC is a "foreign" company.
JerrySJD, Attorney
Category: Business Law
Satisfied Customers: 821
Experience: Attorney for business formation, business sales, tax, partnerships, sole proprietors and buy/sell agreements.
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