Setting up LLC

Google / Product
gsnwp

Go to company page Google Product

gsnwp
Sep 20, 2020 13 Comments

Hi there, i m setting up a side consulting firm. Ideally an LLC in Delaware but i live in nyc. My client will be in MA. The issue is llcs in nyc is painful and much more expensive process to setup. I am trying to see if there is a way to get exempt to register DE LLC as foreign llc in ny state.

Can i just do biz with my de llc while i live in ny? I wont be employee of llc and will just take out profits at the end of the year, and pay income taxes on profits in ny state which is ok. I just dont want to deal with burden of setting an ny llc (several weeks vs 15 mins De llc)

Any thoughts?


Note: have greencard so no visa issues

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TOP 13 Comments
  • Google / Product
    gsnwp

    Go to company page Google Product

    gsnwp
    OP
    My point of using llc is to formalize biz expenses such as part of rent food utilities etc so vpn cant help ๐Ÿ˜‚
    Sep 20, 2020 2
  • Amazon
    @Surfer

    Go to company page Amazon

    @Surfer
    Call Incorporate.com they can make you a DE llc
    You can live anywhere or work anywhere.
    Itโ€™s a few days job to do so. Take the cheapest option of $100.
    Oct 10, 2020 4
  • Sunrun
    love&kind

    Go to company page Sunrun

    love&kind
    Would you happen to know what the benefits are of an LLC? Like would it truly protect you from any liabilities if you are sued? (If heard conflicting answers)
    Oct 9, 2020 2
    • Google / Product
      gsnwp

      Go to company page Google Product

      gsnwp
      OP
      It wouldnt protect you if you are not setting boundaries and using llc as if its you (legal term is called breaking corporate veil) - for instance u cant knowingly fraud ppl using ur llc for personal benefit and assume no personal responsibilities- i d look for examples of breaking corporate veils so you have an idea
      Oct 9, 2020
    • Amazon
      @Surfer

      Go to company page Amazon

      @Surfer
      Buy insurance
      Oct 10, 2020
  • If NY is anything like CA (which I assume it is, since the govt always wants their piece of the pie) then youโ€™ll need to register in NY also.

    I have an LLC out of state. Guess what, I still need to reg in CA and pay all sorts of BS fees. Even though I do no business in CA. The fact is I do my paperwork in CA and hence Iโ€™m operating a business in CA.

    Shit, now that I think of it I should fucking VPN to the state of my LLC and claim I do business in that state only. All the logs would show I was connecting from that state. Such BS. And it will get worse as the economy circles the drain. The govt is going to spend more of other peopleโ€™s money.
    Sep 20, 2020 1