I am planning to start up my own consultancy and already have some solid prospects. I am located in NY and my CO finder is in DC. My clients will be in different states. What is best for setting up the LLC?

like
Posting as :
works at
You are currently posting as works at

Congrats on the new business venture! I always thought setting up a business in Delaware was less related to taxes and more to do with legal requirements. You’ll have to file taxes based on where you physically work and where your clients are. States have different tax laws on how they apportion taxes out.

Also if you plan on doing business in multiple states, it’s a good idea to get a registered agent in each state.

like

+1 to getting your foreign qualification in states you do business in
TL;DR in many states, if your customer chooses not to pay you, you might have no legal standing to even bring a case to collect.
There was some court case I can’t find now where a company shipped a huge value of physical goods to a customer in a state without foreign qualification, the customer said they weren’t paying, and court found they weren’t obligated to pay due to lack of foreign qualification.

like

People. This person isn’t incorporating – they are setting up an LLC. When I did I was told to set it up in the state where the business was being conducted from as at this stage the administrative hassle of establishing an LLC in another state doesn’t yield a discernible advantage. Set up an LLC where most of the business is being conducted and then down the road when you have scaled you can incorporate in DE.

like

Agreed - Delaware is the best choice based upon tax and liability, and for generally corporate-friendly laws.

like

Delaware.

like

Delaware

like

MD1 - An owner of an S-Corp has to pay themselves “reasonable” salary to mitigate total avoidance of SE tax. This can’t be done through your LLC — this is a huge hot button for IRS. You can’t pay yourself 1099/contract income from your own S-Corp.

Incorporate in Delaware, Wyoming, or Nevada. Delaware is probably best. Then you need to register as a foreign LLC in each state where you plan to do business.

like

What kind of consulting do you do?

Are the NV &UT laws truly beneficial or only an author's recommendation for where he is licensed? I have heard Delaware before also. You have to consider the cost of a registered agent in that state along with your taxes.

Thanks for everyone's help so far. Just to reiterate, initially it will be myself and my colleague (both in different states). We will have 2-3 large clients, each in seperate states. From advice so far, it seems Delaware is the right answer (understand other costs like registered agent). I will also get a seperate bank account, software ala quicken to invoice and track business. Any other sdvice?

Not really! Make sure you have a solid OA in place, don’t use Quicken (use QuickBooks Online, better reports). Good luck!

No! Hire an attorney. This is the number one most important thing you can for a startup. I’ve seen so many people skimp on legal costs at the start and it comes back to bite them.

Wherever u live. By the i help build 4 minute sites for consulting companies to stay in touch, attract talent And win clients. Would love to chat with you

Related Posts

Me to IT each time

Post Photo
likefunny

Question about PTO - my contract says 25 days but is this inclusive of any office shutdown over Christmas/New years (if there is one?). In Sydney office if that provides some context. Thanks!

like
likehelpful

Friend is having a bachelor party next weekend and wants to go somewhere with live music. Other than Hotel Cafe and Rhythm Room, I don't know any other live music bars.

Please share suggestions! TIA

like

Is the lateral market still firing with huge signing bonuses?

like

Hello Everyone
I am Nishant Kumar having an overall experience of 3.8 years into IT and currently working as Software Automation Tester.
Currently I am looking out for a job in Automation Testing domain.
Skills - Selenium WebDriver, Jenkins, Cucumber BDD, TestNG, Maven
Current CTC - Rs 6 lpa
Expected CTC - Rs 1000000 per annum
Ready to relocate to Pune and Bangalore
So if anyone has such referrals or job opportunities do let me know.

Thank You
Nishant Kumar
9341404989(Call and WhatsApp)

like

Any Virginia landlord tenant attorneys here? We are on a month to month lease with our apartment and I sent an email indicating we would likely be terminating at the end of August, on June 24. Can I argue that is sufficient to qualify as notice? I think the word “likely” may kill me but I indicated that we are having a house built and closing date was not final yet but will be in August. Definition of “notice” in VA seems to be broad and indicates something about facts and circumstances. Help!

like

Question, my friend from India wants to invest in crypto currency but they banned it in India. She wants to transfer money to me to invest it for her under my account. Is that legal? Not sure what to tell her or how that’d work. Any insight would help!

like

Hi There, I’m a Senior freelance Digital PM/Producer based out of Toronto, Canada. I figure with remote work being the norm now, there would be more opportunity to collaborate with US agencies. Has anyone had the experience of doing this? I know some agencies have strict hiring protocol but I am incorporated. Any advice would help! Thank you

like

US firm willing to relocate to Calgary, Canada (Toronto does not seem to have spots). Is it worth it or should I push for London? I want to be back on L1 or H1

like

Hello guys, does everyone know the salary range for a digital marketeer in the Netherlands with 5 years of experience?

like

Hey Fishes,

Need one advice. I have 2 offers as mentioned below

EY GDS - Business Analyst - 18 lpa Reliance JIO - Product Manager - 22 lpa

YOE : 4.9 years

Kindly let me know which one should I go for and why ?

It would be of great help !

TIA

EY Reliance Jio Infocomm Limited Larsen & Toubro Infotech Tata Consultancy Deloitte USI KPMG India KPMG PwC Optum

like

What is the maximum hike TCS is offering to an employee having working experience of more than 4 years ?

like

Accenture Strategy Consultant (level 3/4; aka 'C ranking') - current compensation after annual review is $120k. Is this low?

like

Anyone on unemployment?

like

Hi everyone, I’m Matt, the Cofounder and CEO of Fishbowl. I’ll be hosting a Fishbowl Live convo this Thursday at 8 PM EST sharing experiences that I hope are helpful for this community based on the 3 startups I’ve launched.

Ideation… product iteration… fundraising... it’s all fair game. You can join us by tapping on this link at 8 PM EST on Thursday:

likehelpfuluplifting

Good Afternoon! We are considering investing in DICE recruiter seats and job posting options. I would love feedback from this group on if the investment is worth the spend. Any feedback with success or not success using this product would be super helpful!

like

I am calling it now. This prediction will come true, and Biden is going to pull out of the live in-person debates to avoid national embarrassment.

Post Photo
likefunny

Does anyone know salary for a first year estate planning attorney in Los Angeles area? My friend is a CPA, class of 2020. She’s just now transitioning to a legal role. TIA?

like

How do you know your true worth? And once you know, how do you make sure you get it?

I am on a team that manages relationships with the banks that hold brokerage accounts for a large Asset Management firm. I have gained an enormous amount of experience (relationship mgmt, project mgmt, analysis), and compensation is decent - $85k base with $25k bonus - but I have no idea what my top earning potential would be if I switched companies or pursued another role. What is the best way to find out?

like

Additional Posts in Startups and Entrepreneurship

Hi everyone, I’m Matt, the Cofounder and CEO of Fishbowl. I’ll be hosting a Fishbowl Live convo this Thursday at 8 PM EST sharing experiences that I hope are helpful for this community based on the 3 startups I’ve launched.

Ideation… product iteration… fundraising... it’s all fair game. You can join us by tapping on this link at 8 PM EST on Thursday:

likehelpfuluplifting

Has anyone started their own consulting firm/practice here? Would love to hear about your experience

like

I’m looking for help in understanding how to start a possible business. I have a pretty interesting idea that I can’t patent due to financial constraints but was wondering if anyone has had experience with Kickstarter or what not and if they’ve ever been funded for a project.

like

Hi, I’m new here! I am starting a business as a parenting coach. It has been suggested to me to reach out to big companies to see if they offer internal employee benefits or learning and development training. The idea being they have a bigger budget than a single family. I have been a stay at home mom for 15 years and I’m out of the business loop. How do I find the right person in the “big company” to email/cold call? Just tying cold call makes me nauseous.🙃

like

Any suggestions on how to get sellers (retail stores) on a marketplace. - reaching out on ig doesn’t seem helpful given owners may not be the one managing ig- nor does random visits to stores as owner or manager may not be there

like

I need to field a quantitative survey for Marketing for a client. I have the survey but now need the respondents. Someone recommended Cint, but I’m not having luck getting my request answered. Anyone got a good (responsive) source where I could buy a panel of ~500 respondents with a specific profile? TIA.

like

My background is product management with a degree in computer science but haven't done harcore coding for the last 10+ years. I spent the last 3 weeks forming and validating a concept, have received good feedback. Now to the next steps of building a working product. Looking to build a small team of engineers to make the concept a reality.

Looking for creative ideas to approach this. I have a budget of about $100k and am estimating about 4-6 months effort to tackle 1-2 specific use cases.

like

Is it normal for a start-up to be super vague and keep setting up meetings to get to know you but gives you bare minimum details about them?

I had a start-up reach out to me and after a few meetings I have barely been able to get any information about them. I don't know name, size, or anything but a vague description about what they offer (don't even know what role they would want me in). Is this normal or am I right to be annoyed?

like

I feel I am finally at the stage of my life where I can start working on my startup. I used to have one before. Even though it failed, I was the most happy doing it.

Since I started working in corporate and since COVID, I have lost a lot of my connection to the startup community and have been feeling dull when it comes to trying to come up with ideas. What have you found useful when trying to come up with ideas?

like

Has anyone here been part of the Antler Founder program - would love to hear what your experience was like? Was it worth is?

like

How do i register a corporation in US? We are three partners. I am the only one in US. Other two live outside of US. They are not US citizens, don’t have Green Card. We will be doing technology implementation work based on the onshore offshore model for US clients. For better checks and balances all three want equal ownship in the corporation. Is it possible? Appreciate ur reponses.

like

Any good recommended books on how to build a scalable product and team? I'm looking for recommendations for two areas: 1) in general laying the groundwork in a startup to have the tools and especially processes in place to scale, and 2) tactical focus on building a SaaS project. I've been promoted into a management role from Dev roots, so need to learn more PM processes to be an effective manager in day job, plus would like to start building my own SaaS solution.

like

What is the average salary in Venture Capital in Europe?

like

Pre-IPO startup offering “25% option plan” for hitting performance milestones in addition to base rate. 25% of what? If it never goes IPO, then am I just left with my base rate?

like

Looking for a technical co-founder to build out/assist in a new proptech company. Message for more information.

like

Any suggestions to find and hire an intern? Not having much luck on Handshake given we are a unknown company - pre-launch

like

Best way to raise capital for a business? I’ve launched and kickoff the product but need ~$500k to grow and sustain over the next 12 months.

like

Considering an exit to a startup that just completed a solid series B. They’re willing to provide competitive comp package and surprised how large the base is for a startup. Has me concerned about being on the high end and being the first person that comes to mind when it’s time to pinch a few pennies or clean up the books ahead of future rounds/IPO. Valid concern or am I overthinking it?

like

Where does one look for a real estate person interested in a startup token based DAO?

likefunny

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal