How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jason M. Tyra, CPA Your Own Question
Jason M. Tyra, CPA
Jason M. Tyra, CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 177
Experience:  Principal at Jason M. Tyra, CPA, PLLC
Type Your Tax Question Here...
Jason M. Tyra, CPA is online now
A new question is answered every 9 seconds

If I create an LLC in Nevada or DC what are the advantages /

Customer Question

If I create an LLC in Nevada or DC what are the advantages / Disadvantages to filing in NYC.
Submitted: 6 months ago.
Category: Tax
Expert:  Jason M. Tyra, CPA replied 6 months ago.
Hi There:The answer to this question depends on your situation and your reason for using a Nevada LLC. Is the company domiciled in NYC?
Customer: replied 6 months ago.
This is the situation. It costs less to incorporate in Neveda or Deleware. And you able to benefit from being taxed twice as well as privacy. I live in NY but I am creating websites / online company. Does it matter where I incorporate? Also what are the advantages / disadvantages to creating an LLC in NY?
Expert:  Jason M. Tyra, CPA replied 6 months ago.
A Nevada or Delaware LLC whose only activities were in New York would need to register there as a foreign entity. It may be cheaper to register in Nevada or wherever, but you wouldn't actually be domiciled there if you operated in another state.It matters where you file in that filing in one place and working in another creates a bit of extra work to maintain compliance for your company.The main disadvantage to operating a business in New York is high tax. If you operate in New York, then you will owe tax on New York source income regardless of where you are registered.