Which state should I incorporate in if I haven't settled down somewhere?

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CLKeenan

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Right now I'm a sophomore in college in NY. However, this semester I am working for GE Corporate as part of their Information Management Leadership Co-Op Program in CT. Next summer I could possibly be back home in Chicago.

With that said, I have three states that I can call home to. I'm in NY for 8 months out of the year because of school, but I have no idea if I'll stay in NY after I graduate in 2 years.

With that said, I'm thinking it would be best to register in a state like Delaware for the above reasons, and the other benefits that would come with it. My business is a website that makes money through selling advertising so I have no brick and mortar store per say.

I know I shouldn't act on anyones advice here, but it will give me some ideas when I go and talk to a lawyer.

Thanks,
-Chris
 


Unless you are paying corporate level income taxes, you pay taxes in your state of residence, not where you incorporate. Volunteering for double taxation is not a good way to avoid taxes.

That being said, there are a few states worth taking a look at from a personal standpoint.

Florida, Texas and Nevada are probably the most civilized of the three that do not have a personal income tax.

New York, Mass. , CT, California, and Illinois are the highest state income taxes I believe. Sorry, but you get taxed to death in your 3 jurisdictions, Illinois would be the best of those 3 I think.

DISCLAIMER:
You know what they say about tax advice...Only as valuable as what you paid for it..
 
CLKeenan said:
Right now I'm a sophomore in college in NY. However, this semester I am working for GE Corporate as part of their Information Management Leadership Co-Op Program in CT. Next summer I could possibly be back home in Chicago.

With that said, I have three states that I can call home to. I'm in NY for 8 months out of the year because of school, but I have no idea if I'll stay in NY after I graduate in 2 years.

With that said, I'm thinking it would be best to register in a state like Delaware for the above reasons, and the other benefits that would come with it. My business is a website that makes money through selling advertising so I have no brick and mortar store per say.

I know I shouldn't act on anyones advice here, but it will give me some ideas when I go and talk to a lawyer.

Thanks,
-Chris
Click to expand...

I dunno.

Ask warrior forum
 
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