a llc in nevada....?

[hockey97]

HI, I want to know that when I incorperate an llc in nevada. Do i need to have a office or an house address in nevada?

I notice in the articles of incorperation that basicly they ask for a nevada address. Or a commercial registered agent address.

I want to know if I have to have a mail box in nevada? I don't live in nevada. I live in another state.

any ideas about this? What I am talking about is where in the articles of incorperation it states : Service of Process.

It asks for a address and seems like it must be in Nevada. The reason I said that in the forms it already has Nevada by where the state is supposed to be stated.

It said I can get a commercial registered agent or a non commercial registered agent.

What is this about and why do I need to provide such information?

[LSnyder]

If you do not live in Nevada but you are forming your business there, yes, you need to have someone act as your Registered Agent because you do need a physical address there. Your actual business address can remain your current address.

[StealYourDreams]

Originally Posted by hockey97

HI, I want to know that when I incorperate an llc in nevada. Do i need to have a office or an house address in nevada?

I notice in the articles of incorperation that basicly they ask for a nevada address. Or a commercial registered agent address.

I want to know if I have to have a mail box in nevada? I don't live in nevada. I live in another state.

any ideas about this? What I am talking about is where in the articles of incorperation it states : Service of Process.

It asks for a address and seems like it must be in Nevada. The reason I said that in the forms it already has Nevada by where the state is supposed to be stated.

It said I can get a commercial registered agent or a non commercial registered agent.

What is this about and why do I need to provide such information?

Based on the above question I'm going to go ahead and assume that you're forming your LLC in NV for tax purposes.

Most people are unaware that you are taxed where you are domiciled, or where you conduct business. So, if you conduct business in your home state and book revenue in that state, you owe both corporate tax (if applicable) and personal state income tax (if applicable).

Just something to think about. Incorporating in NV doesnt automatically give you the tax benefits. Personally, I have a DE Corp. headquartered in NV with offices in CA and FL. However we actually ship product from Nevada.

[hockey97]

well, ya I want to use nevada for tax purposes. I live in Michigan. They are currently thinking to raise taxes again due to defficiate in the state. I won't be touching product.

I made 2 websites. I will be drop shipping goods to the customer directly.

I hope to make money from my website to build my base of the company but want to get into making video games.

I do have a buddy in nevada but we are not very very close... I wouldn't trust him.

I want to avoid dealing with michigan because the gov here they every year raise taxes because they can't control their spending which results in a quick fix by raising taxes.

I will conduct my business online mostly. I don't plan to touch product.

So do you still think it's possible?

[GlobalWealth]

Originally Posted by hockey97

well, ya I want to use nevada for tax purposes. I live in Michigan. They are currently thinking to raise taxes again due to defficiate in the state. I won't be touching product.

I made 2 websites. I will be drop shipping goods to the customer directly.

I hope to make money from my website to build my base of the company but want to get into making video games.

I do have a buddy in nevada but we are not very very close... I wouldn't trust him.

I want to avoid dealing with michigan because the gov here they every year raise taxes because they can't control their spending which results in a quick fix by raising taxes.

I will conduct my business online mostly. I don't plan to touch product.

So do you still think it's possible?

The income will still flow to you personally and therefore you will be required to pay MI state tax. There are other benefits for a NV LLC and I would still recommend going that way, but there is no tax benefit for you as long as you reside in MI. If you move to a no-tax state, then you could avoid the MI state tax. And MI would be one of my least favorite tax states and it likely will only get worse.

[hockey97]

I was told that you don't have to incorperate a business in the state you live in.

I thought personal assests and activities are different then a business activity.

So if the business is not running in michigan it shouldn't be taxed by michigan.

I was told where ever the company is resided would follow that states rules. So I thought I can still make a nevada llc s-corp as long it's not operating in michigan.

well I am looking at ways to avoid michigan taxes. The reason is that the study is corrupt. Our state is trying to bring hollywood their and how they are doing it is raising the taxes. We just found out that our gov just game spending money to directors that are right here shooting a film. They used the money to buy lambos. I personally don't like how they spend the tax money and the fees they create. So I want to avoid this.

I thought personal life is seperate then business life. Meaning for example The owners of GM don't personally own assests of GM. Well for example the president of GM lets say his name is bob... well bob by itself is bob his legal personal sig. If he signs checks and contracts using just bob he is personally liable because he used his personal name. If he put's president bob then that is his legal business identity and whatever he signs with that name is towards the business.

I am in college currently 2nd year majoring in accounting. We never went in detail at the legal side of incorperation we just knew about llc, c-corp, s-corp, etc.

I asked many people and most of them claim that I can incorperate in other states.

They never did talked about that I must live in that state in order to incorperate in that state or avoid taxes.

I mean if I start the business in nevada then the business must follow nevadas laws.

I thought that sales tax comes only in play if you have a business operating in that state and sell taxable goods.

I am doing most of the business online. I don't have plans yet to open any shop in a physiclal form.

So is their any way around this? Can't i just rent out a mailbox in nevada?

[GlobalWealth]

Originally Posted by hockey97

I was told that you don't have to incorperate a business in the state you live in.

I thought personal assests and activities are different then a business activity.

So if the business is not running in michigan it shouldn't be taxed by michigan.

I was told where ever the company is resided would follow that states rules. So I thought I can still make a nevada llc s-corp as long it's not operating in michigan.

well I am looking at ways to avoid michigan taxes. The reason is that the study is corrupt. Our state is trying to bring hollywood their and how they are doing it is raising the taxes. We just found out that our gov just game spending money to directors that are right here shooting a film. They used the money to buy lambos. I personally don't like how they spend the tax money and the fees they create. So I want to avoid this.

I thought personal life is seperate then business life. Meaning for example The owners of GM don't personally own assests of GM. Well for example the president of GM lets say his name is bob... well bob by itself is bob his legal personal sig. If he signs checks and contracts using just bob he is personally liable because he used his personal name. If he put's president bob then that is his legal business identity and whatever he signs with that name is towards the business.

I am in college currently 2nd year majoring in accounting. We never went in detail at the legal side of incorperation we just knew about llc, c-corp, s-corp, etc.

I asked many people and most of them claim that I can incorperate in other states.

They never did talked about that I must live in that state in order to incorperate in that state or avoid taxes.

I mean if I start the business in nevada then the business must follow nevadas laws.

I thought that sales tax comes only in play if you have a business operating in that state and sell taxable goods.

I am doing most of the business online. I don't have plans yet to open any shop in a physiclal form.

So is their any way around this? Can't i just rent out a mailbox in nevada?

There is nothing to prevent you from forming an LLC in another state. Actually, it can be beneficial to you. But that is not the issue. You personally reside in MI and LLC income will flow through to you personally therefore you will have to pay MI state income taxes. The questions you raise are an excellent example of why you need to seek proper counsel in forming your LLC. If done incorrectly, it can cost you in the long run. If you need assistance, let me know. I offer all potential clients a free 30 minute consultation.

[hockey97]

I don't get why I would get michigan tax. That is only if I get paid.

I don't plan to get paid. What goes in the company will stay in the company unless I hire someone. I want to grow the business before I start paying myself. I have some tricks up my sleeve that I can the move money around.

I am guessing your saying that the company may be incorperated in nevada but I won't avoid taxes in michigan because I would have to pay the income tax if I am getting paid. Meaning I be treated as an employee therefor I would have to pay michigan taxes since I am living in michigan.

I think I get it. I hope what I stated here is what your saying. Thanks. I have business law right now and the professor knows alot about business law.

I plan to do this myself as a learning experience. Since I will be an accountant. I want to know the whole thing. We won't learn the legal details just basic stuff from college about incorporating.

Thanks for the heads up.

What I am saying about not being able to incorporate in nevada was about the forms that I need to have a nevada address.

I thought this meant I must be a resident in nevada to incorporate as domestic.

[GlobalWealth]

Originally Posted by hockey97

I don't get why I would get michigan tax. That is only if I get paid.

I don't plan to get paid. What goes in the company will stay in the company unless I hire someone. I want to grow the business before I start paying myself. I have some tricks up my sleeve that I can the move money around.

I am guessing your saying that the company may be incorperated in nevada but I won't avoid taxes in michigan because I would have to pay the income tax if I am getting paid. Meaning I be treated as an employee therefor I would have to pay michigan taxes since I am living in michigan.

I think I get it. I hope what I stated here is what your saying. Thanks. I have business law right now and the professor knows alot about business law.

I plan to do this myself as a learning experience. Since I will be an accountant. I want to know the whole thing. We won't learn the legal details just basic stuff from college about incorporating.

Thanks for the heads up.

What I am saying about not being able to incorporate in nevada was about the forms that I need to have a nevada address.

I thought this meant I must be a resident in nevada to incorporate as domestic.

If the business makes a profit, you will have a MI tax obligation even if you don't pay yourself. You may never pay yourself a penny, but if you own the LLC and it earns a profit, you will have to pay your personal income tax. If you live in MI, then you will have to pay MI state tax. If you don't, you risk serious trouble with the MI tax dept. That is tax evasion and a serious offense.

You really need to register the NV LLC in MI as that is where you are going to do business. This means you will have to also pay MI filing fees. With the NV LLC you will also need a physical address, not a PO Box. This is accomplished with a registered agent.

If you do this incorrectly, it can cost you a lot of money down the road and a lot of trouble. This is why it is always smart to get proper counsel on these issues. this is not the time to cut corners.

[hockey97]

ok thanks. Well I still decided to go with nevada.

I just want to know what they mean by : Registered
Agent for Service
of Process


do I need a address that is located in nevada? If so how would I do this if I don't live in nevada?

I be doing business online From nevada.

[StealYourDreams]

Nevada Registered Agents

Your registered agent is the person physically located w/in the State that receives primarily any legal documentation. That documentation is forwarded to you.

Sometimes it pays to use a service to incorporate and pay the few hundred dollars above whatever the state charges in order to get everything in a complete package, i.e. registered agent, all your corporate docs, registar, seal, stock certs, etc. Most will include a disk with templates for all the record keeping you will need.

[hockey97]

ok, thanks that clarifies it.

so just decide to just register in Michigan. Which I am not happy about doing so.

[affinity1]

hockey, you ask many of the questions I would.

I would ask then, if hockey is going to be taxed on income from MI no matter what, then why file an LLC in NV at all?

[GlobalWealth]

Originally Posted by affinity1

hockey, you ask many of the questions I would.

I would ask then, if hockey is going to be taxed on income from MI no matter what, then why file an LLC in NV at all?

There are legal protections offered in NV not offered in MI. Take a look at this for an explanation of the lack of charging order protection in MI. Essentially if you are sued in MI and you have an LLC you can lose your business, but not in NV. Of course this is presuming you have properly structured yoru NV LLC and you have a solid operating agreement. A standard 10 page boilerplate operating agreement will not suffice. NV LLC's also offer privacy MI does not offer because only the Manager is registerd with the state in NV vs. members in MI. This makes it much more difficult for a creditor to find your assets if held in a NV LLC. If your business is a NV LLC and your operating agreement is properly written, any litigation will need to be held in NV, thereby making it much more difficult for creditors to attach your assets. MI is actually one of the worst states for entity formation.

[LLCtaxes]

Keep in mind, if you register in NV and then do business in another state you'll probably need to file as a foreign corporation in that state.