What States are you starting your LLC's in?

[Cassidy Burns]

Hi BP,

I'd love to get this thread started.

What are the best practices/ strategies to starting LLCs in the most tax "beneficial" states for their businesses? 

Why or why not? Great question to accountants .

What states are the best ? 

Look forward to seeing any feedback.

Happy wealth building.

[Mike S.]

What kind of LLC are you talking about?

An LLC is a legal entity that has nothing to do with taxes.

Your LLC per se is non existent for the IRS. You can choose different status. If it is a single member, then by default it will be disregarded by the IRS unless you elect to have it taxed as an S or C corp.

If it is a multi members LLC it will be by default seen as a partnership, unless you elect to have it taxed as an S or C Corp.

Depending on the status you choose, your state tax treatment will be different too...