I need to form an LLC for my media/photography company but I am not sure where to form it. I will be moving in the next year and may be moving the following year after that depending on some working opportunities and I am not sure where I will be settling down. So would Wyoming/Nevada/Delaware work for me?
Also if I want to write off my business expenses how can I do that using the address where I currently live or will be living in that specific tax year?
Thank you for your help with this confusing matter.
Here is how it works: you could register your company in one of the incorporation-friendly states such as Wyoming or Delaware (keep in mind that Nevada is one of those states, but fairly costly to register and maintain your entity there), and then register a foreign entity in the state of your residence. Then, when you move you can close the foreign entity, and register a new one in your new state of residence.
What you get is the ability to move to a different state, without having to close your business and reopen it in a different state (some select states allow re-domestication, but in your case since you don’t know what state you would move to it would be too “risky”). Although this solution comes with additional cost to register and to maintain, you do get the ability to operate freely in your current state of residence, including taking all the business related deductions.
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