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hi YouTube it's Derek with money oh hi calm and today we're going to try and answer the question for you can i form an LLC in another state the answer is you can and we're gonna talk about why you would want to do that and in what situations that would be okay for you to do so first of all why would you want to form an LLC in another state there are a lot of states I've got a post in the comment section below that you can check out but there are a lot of states that are very expensive to form an LLC one might be Texas for example I think it's three hundred dollars to form your LLC if you're starting your company out right away you might not have three hundred dollars that might be too much for you to spend or you might just be looking to save money another reason why you would want to form an LLC in another state is maybe the the fees that they tech you with every single year some states at zero some it might be only $50 other states could be several hundred so why not form in a place that's cheap you can form an LLC in another state let's talk about if your particular business is going to be able to do that to be able to form an LLC in another state you cannot have a physical presence in the state that you're in okay so if you have a physical presence in your state and you file an LLC in another state you'll have to come back and file in the state that you're physically in as a foreign entity so that kind of defeats the entire purpose of trying to save money so if you're an online business you write blog posts you're freelancer online things like that you can file in another state such as Delaware Virginia places with very low filing fees and very low ongoing year-to-year fees and save yourself potentially a lot of money if you do have a physical presence warehoused or anything like that it doesn't make sense to file in another state because you'll have to file as a foreign entity in the state that you're in and that defeats the whole purpose you're paying two different fees so if you do have a online business I'm gonna put a link to the video right here check out this video for how to form your LLC for cheap that'll show you how to go in and save hundreds of dollars when you go to create your LLC and I've also got a link in the section below that's got a table of all the fees for the different states to file your LLC create your LLC initially and then ongoing fees each year and you can pick the state that might be right for you if you have online type of business if you have any questions leave them in the comment section below if you found this video helpful please like and if you'd like to see more LLC type material in videos please go ahead and subscribe this has been derek with money who i com I hope you found this video useful
Thanks for your comment Pablo Zangger, have a nice day.
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I've studied post-modern literature at Kettering University in Flint and I am an expert in sociology of sport. I usually feel hot. My previous job was flight attendant I held this position for 19 years, I love talking about breadmaking and electric guitar. Huge fan of Danielle Cohn I practice wrestling: greco-roman and collect seashells.
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