Legal Question in Business Law in Nevada

Formation of an LLC

As a legal resident of Texas, what are the advantages

or disadvantages of forming an LLC in the states of

Nevada or Wyoming?

Asked on 2/26/01, 3:19 am

2 Answers from Attorneys

David Leon David L. Leon, P.C.
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Re: Formation of an LLC

I'm not licensed in either NV or WY so I will limit this answer to Texas law. If you form your LLC in another state, but do business in Texas, then you will have to register as a foreign LLC, obtain a Texas Certificate of Authority and pay the associated filing fees (which are several hundred dollars) in addition to franchise taxes. If you're planning to do business in Texas, I would recommend your thinking about forming the LLC in Texas. Feel free to contact us if you want information about forming an LLC here.

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4/20/01, 10:46 am
Paul Sherman Paul A. Sherman
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Re: Formation of an LLC

No Tax

No Taxes on Members ownership

No Franchise Tax

No Personal Income Tax

No I.R.S. Information Sharing Agreement

Nominal Annual Fees

Minimal Reporting and Disclosure Requirements

A non-resident may file.

For more information on filing, go to my website at www.shermanlawoffices.bigstep.com or contact me at shermanlawoffice@justice.com

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4/21/01, 4:04 pm

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