Where to register LLC?

Discussion in 'Ask An Owner Operator' started by Wespipes, Aug 22, 2019.

  1. Wespipes

    Wespipes Light Load Member

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    What state is best? I was going to go with mississippi cause they have the lowest insurance rates
     
  2. buddyd157

    buddyd157 Road Train Member

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    i often see ads in many trucking magazines for Delaware..??
     
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  3. FlaSwampRat

    FlaSwampRat Road Train Member

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    Delaware has the best corporate tax laws in the nation from what I've heard. That's why almost all banks and credit card companies are based there.
     
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  4. Wespipes

    Wespipes Light Load Member

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    Delaware has a 8.5% corporate tax rate Tn for example is only 6.5%
     
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  5. FlaSwampRat

    FlaSwampRat Road Train Member

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    That's nuts, it must be banking laws or something. I didn't know I've just always heard that it was corporate tax law that made it so appealing. I do know that most banks are centered there tho. I would honestly register wherever the laws for the truck are going to work for you such as insurance cost like you said.
     
  6. Wespipes

    Wespipes Light Load Member

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    Says Mississippi is 3-5% plus a corporate franchise tax.
     
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  7. Wespipes

    Wespipes Light Load Member

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    Mississippi has no corporate tax for s-corps. Gonna need to talk to an accountant see if I can do an s-Corp. That combined with lowest insurance rates Ya think imma go with Mississippi
     
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  8. buddyd157

    buddyd157 Road Train Member

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    Maine imposes an income tax on all entities organized as corporations and that haveMaine-source income. The corporate income tax is graduated, with rates ranging from 3.5% (for income up to $350,000) to 8.93% (for income in excess of $3,500,000).
    Corporate Income Tax - Maine.gov
     
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  9. rank

    rank Road Train Member

    In addition to taxation differences, I believe each state has different laws with regard to who can own and more importantly from a liability perspective....who knows who the owners are. You can't sue who you don't know.
     
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  10. Wespipes

    Wespipes Light Load Member

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    Interesting perspective that I didnt even think about I'll have to look into that
     
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