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Hot take: filing my LLC in Wyoming beat filing in my home state of California
I run a small online resale gig out of my garage in Fresno and last year I finally set up an LLC, but my cousin who does books told me to look at Wyoming instead of California. The California filing plus the $800 yearly fee would have run me about $900 out the gate, while Wyoming was $100 to start and $60 a year, and since I have no storefront or employees it worked fine. Has anyone else run into a real downside with an out of state LLC, like a bank giving you trouble or a client asking questions?
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olivia_white931d ago
Banks are where it gets annoying. Mine wanted a local address and a copy of the CA registration too since that is where I actually work, so the Wyoming papers alone were not enough. Took an extra week and a half of back and forth. Clients never cared once the invoices had a real name on them. The one thing to watch is your CA taxes, because the state still wants its cut on income you earn there even with a WY LLC. Register as a foreign LLC in CA if you are doing business in state or you may get a surprise later. Talk to the cousin who does books about that part, it is worth the hour.
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