Best State To Form an LLC: Lower Taxes and Start Saving

Discover the best state for forming your LLC and start saving on taxes with our comprehensive guide.
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Discover the best state for forming your LLC and start saving on taxes with our comprehensive guide.

Timestamp Sections:
00:00 Intro
01:27 What is an LLC?
04:16 ZenBusiness
05:41 ZenBusiness - Recommendation
07:59 Tailor Brands
08:58 Tailor Brands - Recommendation
09:48 LegalZoom
10:59 LegalZoom - Recommendation
12:17 Bottom Line
12:56 Outro

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How to Form an LLC with Low Fees and Strong Legal Framework
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Hi, welcome back to the channel! Today, we’ll explore forming an LLC with the lowest possible fees and best legal structure. Many people think setting up a limited liability corporation is complicated, but using online services simplifies the process.

We’ll start by identifying the best states to form an LLC based on registration fees, taxes, regulations, and privacy. This is crucial whether you’re based in the U.S. or running an online business. From personal experience, I’ll share my top three states for LLC formation and their costs.

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Best States to Form an LLC
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The state you choose significantly impacts your LLC’s financial and operational aspects. States like Kentucky and Mississippi have lower filing fees, under $50, but there are other factors to consider. High annual fees, such as California’s $800 franchise tax, can be burdensome despite low initial costs.

Kentucky, with a $40 filing fee and $15 annual fee, offers excellent incentives for small businesses. However, registering in your home state is generally advisable to avoid double fees and paperwork unless you seek specific advantages from states like Delaware, Nevada, or Wyoming, known for business-friendly laws and privacy.

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Top LLC Formation Services
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ZenBusiness: Offers a free company registration service (pay only state fees). Their Pro plan ($200/year) includes EIN and compliance services, while the Premium plan ($350/year) adds a website, domain, and business templates. They recommend Wyoming for low fees and no annual reports, but caution against Delaware and Nevada for LLCs due to higher fees.

Tailor Brands: Focuses on branding with plans from free (state fees apply) to $249/year, including website and logo design. They recommend Wyoming or Delaware for LLC registration, offering comprehensive guides and registered agent services ($200/year).

LegalZoom: Provides a free registration plan (state fees apply) and a Pro plan ($250) for EIN, business licenses, and expert consultations. Their Premium plan ($300) includes legal advice and copyright registration. They suggest Delaware, Nevada, and Wyoming for LLC formation, each offering unique advantages in taxes and privacy.

Each service offers unique benefits for forming an LLC, with ZenBusiness being the most straightforward about state recommendations, Tailor Brands excelling in branding support, and LegalZoom providing extensive legal services. Generally, registering in your home state is the best choice unless specific business needs dictate otherwise. Use the affiliate links in the description for discounts and support the channel. Thanks for watching, and don’t forget to like and subscribe for more reviews!

Hope you enjoyed my Best State To Form an LLC: Lower Taxes and Start Saving Video.