Creating an LLC—Which State is Best? LegaLees' Attorney Lee Phillips Releases New Article
Orem, UT (PRWEB) July 20, 2013 -- LegaLees’ Attorney Lee R. Phillips has written a new article called, “Creating an LLC-- Which State is Best?” In the article, Mr. Phillips reviews the reasons for forming an LLC in the state where you are doing business rather than in a state where businessmen have traditionally incorporated or formed businesses.
While asset protection is good in these traditional states, most states have paid attention and tightened up their asset protection and tax structures, making them similar in law and more consistent.
The article also explores how creating an LLC has become big business for registered agents in the traditional states. These agents are advertising widely to make it seem it is best to form your LLC in their states. Mr. Phillips observes, “All states in the United States have come to the realization that they cannot afford to lose the revenue that comes from having small businesses registered in their states. As a result, laws have been passed to tighten up asset protection , enforce fees and provide favorable taxing of small businesses whether they are in or out of state. This means that it is almost always as advantageous to form an LLC in the resident state.”
As Attorney Phillips notes, “It is important people understand that forming an LLC in their resident state can prevent a double paying of state fees. Then they can avoid the necessity of hiring an outside registered agent that will add additional cost. Often those savings can make a difference in a small business’ profits.”
Entrepreneurs or anyone just starting a business can benefit from this article as it also explores reasons why someone might want to form an LLC in another state. There are a few reasons why this could be beneficial.
Mr. Phillips serves as a counselor to the Supreme Court of the United States. He is the author of 11 books, including his latest book Protecting Your Financial Future. He has written hundreds of articles for professional people assisting them in finding various strategies to use the law to protect their property, save taxes and make additional money. Lee enjoys helping others apply the law and reaching new financial heights.
LegaLees was founded in 1982 by Lee R. Phillips. It is a legal self-help publishing company and produces products designed to help people understand the law. Based on his own personal experiences, Mr. Phillips realized that people needed to be able to understand how the law works so they can direct their own legal professionals, or do their own work. LegaLees has designed many products to help individuals properly structure their personal and business affairs to get the greatest asset protection and tax benefits.
Lee Phillips, LegaLees, http://www.legalees.com, 801-802-9020, [email protected]
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