New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
Will I incur a franchise tax living in GA and setting up my LLC in WY? I read CA charges $800/yr?
Thanks,
Tim
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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