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Old 30th May 2012, 03:18 PM   #1
mdeforge
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Default Thinking About Registering LLC Is Another State, Would Like To Know Implications

Hi, first post

I live in Michigan, but am attracted to Nevada's no corporate tax law. I'm starting a two member LLC soon, and am thinking about starting it there. Since Michigan does have a corporate tax, would I eventually get double taxed anyway when I transfer any money from a business account to a personal account? Essentially negating any benefit in the first place? Please assume I'm electing to be taxed as a corporation.

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Old 31st May 2012, 10:34 AM   #2
torka
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This is not a question that can be answered by an online forum. You NEED to consult with a tax attorney. Which is best for you depends on many factors, such as your own personal financial circumstances, the type of business you plan to start (including projected revenue/growth), what your business partner prefers, etc.

You really need to talk to an tax accountant or a tax lawyer before you proceed.

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Old 4th June 2012, 08:58 PM   #3
SeattleCPA
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This doesn't work... if you live in MI, the income your NV LLC earns will all flow right back onto your state income tax return.

This isn't what you want to hear, but the way to "move" your income out of MI is to literally move your family out of the state.

Sorry. (BTW, I am a tax CPA)

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Old 4th June 2012, 09:22 PM   #4
mdeforge
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No problem, I figured as much. I've decided, for the sake of keeping it simple, to start my first llc in Michigan. Thanks =]

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