Probably a domestic LLC in your state.
Usually the costs for registration of a foreign entity are the same or more, so you pay twice.
If you’re registering a Delaware company for a particular reason, that reason makes cost irrelevant.
Ask HN: What's the cheapest way to maintain a corporation?
11–14 of 14 posts
Re: Ask HN: What's the cheapest way to maintain a corporation?
#12I use an LLC. The complexity and cost vary from state to state. For me, it cost about $300 to set up, and about $70 every 10 years to maintain. As a single member LLC, you can even file the taxes under your own return.
LLC is cheapest but sometimes it's not good enough - it's pass-through for taxes which means your personal taxes are impacted by business profits. You may need to have more tax assistance because this - YMMV of course. The "file the taxes under your own return" is a double-edged sword. I've been burned in the past on this.
I've created LLCs in the past but my next company is starting as a C-corporaion just to avoid the tax entanglements since I already need the same tax people either way, so why not take the added advantages and greater protection.
Where you start your LLC matters a lot. E.g. CA is one of the worst - you have to pay minimum tax at founding and then every year: $800+ last time I formed one. NY was far easier - there's a minimum annual but then no minimum tax so no revenue no tax.
Re: Ask HN: What's the cheapest way to maintain a corporation?
#13I use an LLC. The complexity and cost vary from state to state. For me, it cost about $300 to set up, and about $70 every 10 years to maintain. As a single member LLC, you can even file the taxes under your own return.
LLC is cheapest but sometimes it's not good enough - it's pass-through for taxes which means your personal taxes are impacted by business profits. You may need to have more tax assistance because this - YMMV of course. The "file the taxes under your own return" is a double-edged sword. I've been burned in the past on this. I've created LLCs in the past but my next company is starting as a C-corporaion just to avoid t…
The biggest tax issue for me (which is basically unavoidable) is that it's considered self employment, so it's subject to those fun taxes.
Re: Ask HN: What's the cheapest way to maintain a corporation?
#14I use an LLC. The complexity and cost vary from state to state. For me, it cost about $300 to set up, and about $70 every 10 years to maintain. As a single member LLC, you can even file the taxes under your own return.
Where did you incorporate? I live in cali and llc or not the $800 minimum that goes to the tax board is bonkers.
Outside of dollar cost, what is involved in doing the paperwork every year?