By forming a limited liability company (LLC) in another state, you may be required to file periodic reports and pay franchise taxes, in addition to the state where you do business. If you’re a startup with no reason or plans to go public, you should seek legal advice to explore your in-state options.
These are generalities and aren’t intended to provide specific legal advice or delve into the differences between the corporate laws of different states. I would, however, again emphasize that very often the state in which the business is located is often the best state in which to incorporate. To make sure, you should talk to a lawyer. You can do that at, a legal platform that offers free consultations with experienced business attorneys. Good luck!
full disclosure – i’m the CEO at LawTrades