Lux Investing
Should I incorporate in Delaware or my home state (NY) for my real estate investing business?
When it comes to incorporating my new real estate investing business, are there any hurdles to being incorporated out of my home state (NY) that I need to be aware of? I'd like be incorporated in Delaware.
Public Comments
- The reason most individuals incorporate in Delaware and Nevada is because of the taxes involved as well as the amount of information Nevada and Delaware provide to outside agencies like the IRS, and other federal agencies. Normally if you have an out of state corporation and you want to do business in your home state you are considered an alien corporation, therefore you are required to pay a fee to operate your out of state corporation in your home state. So you should weigh the cost, against what you intend to do with the corporation. Normally if you do not reside in Delaware or Nevada and you have a corporation in one of those states you are required to have a resident agent in that state, therefore you incur a cost of anywhere from $75.00 to $150.00 or more for one of these agents per year. A post office box will not suffice in this circumstance. I hope this has been of some use to you, good luck. "FIGHT ON"
- You should incorporate in the state your going to be doing business in. You can get everything you need to incorporate your business at - http://www.legalformsbank.biz/ - under your state's corporations category.
