Best state to base your company

Depends on if you are talking about moving (TN, TX) or just setting up an operation for base plates? The second I would say no place because of the costs of what you will need to do will not make up the difference of even the most expensive states.

I have been looking at this when I got a renew for 2 trucks in IL at $4600 per truck. I am hoping that a mistake was made in entering (almost certain) but IL will not allow you to go back and re-enter.

But setting up a legit operation in IN is going to cost me about $200/mo. At those numbers it does not justify at a single truck but we will save with two.

 

I have been hearing a lot of talk about delaware to register biz (google harvard business services) as for truck registration I'm looking into indy but have no look finding a way to do it legal.

 

Any corporate structured business has an advantage basing out of a "no corporate tax" State. Del, NV are but 2 of them there are others.

But for the legalities of base plates....I think residence is required to play in that ball game.

 

You are talking about two different things. The state you Inc. in and what state you operate in. DO NOT CONFUSE THE TWO. IRP could care less if your corporation is in Delaware. They only care where you have legal residency.

And would also look at the cost/benefit of out of state incorporation. Do some research from companies that do not make money on you doing business with them.

 

that's what I was thinking....never done it, but read about it.

Figured you would have a cleaner answer than I could give!

 

For an Independent O/O you will likely want to do an S Corp so that you can take advantage of some the tax savings of being an employee and then passing the rest of the income through to be taxed at personal rate. In this case the added expense of being in a no corp tax state for a C Corp is a waste. This really only works for large companies.

Now, what state you are based in matters as you start to have taxable income.

TN seems to be a good trucking/tax state.

 

and no freight that pays...

Move where the work is

 

SD would be another good move. No personal income tax. As an LLC filing sole proprietor, would be a good move.