We have seen a lot of other business-filing companies and services extol the virtues of incorporating in Nevada or Delaware, but the reality of the situation is a bit more nuanced. You have to contend with foreign qualification fees, regulations, licensing, and, to top it all off, the main state you do business in will probably still want to collect the same amount of taxes as they would if the business was formed in its borders. You have to contend with foreign qualification fees, regulations, licensing, and, to top it all off, the main state you do business in will probably still want to collect the same amount of taxes as they would if the business was formed in its borders. Yes, we know we just disparaged the tax argument, and most small businesses will just have to accept there is no escaping the taxman. However, in a few, select cases, you can save money on your tax bill by forming your business in a state other than the one you do business in. Some states have a high ‘nexus' point – the point where they begin charging foreign corporations for doing business in their borders. If you run a business that has a presence across state lines, then it can make sense to find a friendlier state to form your company in. When it comes to multi-state businesses, most states will only collect tax on income derived from within the state. If you need to be close to a harbour, for example, you do not want to form a corporation in Nevada, no matter how business-friendly the state is. So, make sure to take your infrastructural and operational needs into consideration when choosing a state of formation.
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