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  1. #1
    SitePoint Wizard CLKeenan's Avatar
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    Jul 2004
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    Is there any reason why I should/can not file for LLC in Delaware?

    I've been doing a lot of research and from what I can tell Delaware is the place to file an LLC. Since all of my revenue comes from selling advertising, I'm not necessarily doing business in any given state so I can file any where regardless of my location as long as I have an address in that state or a local agent to represent me. Is that assumption correct?

    Here is a short summary of why I would want to file in Delaware:

    Facts on Delaware Limited Liability Company Formation

    * Delaware General Corporation Law is one of the most advanced and flexible business formation statutes in the nation
    * The Delaware Court of Chancery is a unique business court that is very business friendly
    * Delaware Corporations are not subject to state corporate income tax
    * There is no personal income tax in Delaware.
    * All limited partnerships, limited liability companies and general partnerships formed in the State of Delaware are required to pay an annual franchise tax of $200.00

    Could someone explain the no corporate and no personal income tax in delaware? it sounds almost too good to be true but Im assuming Im missing something.


  2. #2
    busy Steelsun's Avatar
    Join Date
    Mar 2001
    Houston, Tejas; Future Capital of the World
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    It is.

    Since you are actually doing your business in Illinois (based on your location in your profile), you probably have to domicile the company there. You'll be updating your sites, depositing your money, etc there.

    Just because Delaware has no STATE income tax, does not mean you still won't have to pay FEDERAL income tax.

    PS: I am not a lawyer.
    Brian Poirier
    SunStockPhoto: Stock Photos, Fine Art Photos, Event Photography


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