leaqst Tax implications

[Gregs]

O>K> I will be forming either an Llc or an S corp in the state of Wyoming for privacy reasons, not to avoid any taxes , but to take advantage of several things that state offers, now my question is , since I will be plowing everything the company makes directly back into the company for at least two years , I do not want to have to pay any tax(s) I do not need to, such as any employment taxes, and so on, I also do not want to pay tax on the overall profits ,per say , because they will really be operation expenses, as the one owner , ( I do and can have 2 officers) I do not want my "income" to go up , and "if " I were to pay me anything at all it would be as minimal as possible , or later on down the line in a least taxable way, dividend? bonus? salary? I need to form in a state that allows my information to remain private as the owner , that is the only reason to from an Llc or S corp anywhere other than where I reside, any help here?

 

[Michael Wechsler]

You don't have to form a corporation in the state you reside. If you form a corporation in another state, you will need to have a agent. If the corporation is run from your state, you can't simply use your incorporation in another state to file for taxes there. Your tax situs will be where your business is run - if your DE or WY business is actually conducting business primarily in FL, you will need to file for taxes in FL. Corporation taxes are different (and usually are an issue if you have a C corporation, which has many more shareholders and shares than an S corporation.)