By Lane V. Erickson, attorney
I often have clients ask me which state they should set their business up in. More often this question is, which state should I incorporate in? Many people wanting to set up an LLC or corporation have heard or read on the internet that states like Delaware, Nevada and Wyoming can offer business benefits beyond what most states can offer. So where do you set up your business or corporation? My advice and counsel is that unless you own, or plan to own, a business that is large and doing business in many states, it is almost always best to set up you business in the place where you already live. There are 3 main reasons for doing this.
1. THE COSTS OF REGISTERING A BUSINESS