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Franchise tax in GA

Asked by: Tim - 9 July, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 Will I incur a franchise tax living in GA and setting up my LLC in WY? I read CA charges $800/yr?

Thanks,
Tim
Answered by: Alex Zehn - 11 July, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/28.jpg-7d9906f3bebbbdfc924d6dc4cf7bc094 Tim,

Only some states have franchise tax, with California being the most infamous one charging $800 and more a year.

As far as Georgia goes I know there is an Annual Report fee of $50 for domestic LLC (not sure about foreign), however you will only be required to do any kind of reporting if you LLC does business in Georgia or if you plan to physically establish it there (you will need to consult your accountant prior to making any decisions of that kind).

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