Most new small business owners start their businesses in the state they reside in. While that works for many people, you should be aware of a couple of other options. There are certain states that provide great benefits to small business owners, even if the owners don’t live there. Delaware, for example, is known to be a very business-friendly state. The initial charge to incorporate in Delaware tends to be lower than most states, there is no corporate income tax for corporations, and they have an easily interpretable law.
Watch this video by MyCorporation to learn about your options when deciding where to start your new business.
Have questions about starting a business? Give us a call at 877-692-6772 or visit us at www.mycorporation.com/taxact.