Legal Question in Tax Law in New Jersey

I am doing online trading via stock brokerage account and was planning to start an LLC or corporation in Nevada to reduce taxes. Is worth to go through the hassle of opening an entity in order to reduce taxes?

Since I am a New Jersey resident, will I be taxed in New Jersey If the LLC or corporation is registered in Nevada and used for trading with online brokerage?


Asked on 11/12/16, 1:11 pm

2 Answers from Attorneys

Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

As a NJ resident, you will have to pay NJ Gross Income Tax. Please engage a good tax lawyer to guide you.

Ron Cappuccio

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Answered on 11/12/16, 5:53 pm
Roman Fichman Esq. Law Practice of Roman Fichman Esq.

Generally speaking, one should form an LLC where the business is located and not in third party states. Folks often incorrectly equate forming corporations in third party states with LLCs. Choosing between an LLC and a corporation would depend on the type of trading operations your project to have in the future.

Please contact my office for a consultation in the matter because we are startup attorneys. As startup attorneys, a lot of our work involves assisting with the choice of entity type, choice of state and enacting the needed corporate documents. The consultation is a flat fee.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

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Answered on 11/13/16, 11:44 pm


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