Bryan Kellar wrote:
- quote -

Never say "Never."

Basically, I agree with your opinion but there can be
exceptions. For example, if the corporation is structured
so that it has substantial income from investments or
intangible assets, incorporation in a state like Nevada may
prove beneficial.

To incorporate in Nevada, one needs an agent and an address
in Nevada. Thus, income from such sources, if they are not
part of the corporations business operations, would not be
taxable in another state.

Not likely to happen? Probably true but it is possible.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

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<randommale9999[at]aol.com> wrote:

- quote -

Actually, just a note to the lurkers out there. Anytime I
get a question in my practice that starts out "I have a
Nevada (or Delaware) Corporation" than I know I have someone
who took the advice of someone who really doesn't know what
they are talking about. Oh, except for the guy with an
office in Reno. I'll give him a break, here.

The point is this: If you can not explain to me in clear
English why you should be incorporated in a state other than
the one you live in and do business in, then you should be
incorporated or otherwise registered in your own state.
Period.

Corollary to the above point: There may be someone out
there who will benefit from registration in another state.
However, if you are in a position where you are even
considering getting your tax advice and information from
misc.taxes.moderated, then you need to be registered in the
state where you do business.

I hope that helps.

Bryan

--
Bryan Kellar, EA
Oregon Tax Help, Inc. -- Portland, Oregon
www.oregontaxhelp.com
www.canadatax.org

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<randommale9999[at]aol.com> wrote:

- quote -

The general rule is "you pay your taxes where you live."
I am very good at conjuring up exceptions to rules.
However, I am at a loss to come up with any methodology by
which your circumstances would benefit from an out-of-state
incorporation.

So do yourself a favor if you want a Nevada corporation,
move to Nevada.

Dick

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randommale9999[at]aol.com wrote:

- quote -

Sure it CAN be done, i.e forming the Nevada corp, but it
won't work to bypass state income tax.

- quote -

Yes!

ChEAr$,
Harlan Lunsford, EA n LA
24 Mar 2005

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<randommale9999[at]aol.com> wrote:

- quote -

YES, Yes, yes and YeS.

Y`ou can't avoid state taxes by incorporating in NV. Nexus is the issue.
You're just adding another level of paperwork.

--
Regards,

Mark Rigotti

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"randommale9999[at]aol.com" <randommale9999[at]aol.com> wrote:

- quote -

Don't believe everything you read. If you incorporate in
Nevada you will double your trouble. You still need to
register and file tax returns in the state in which you do
business (I suspect Massachusetts here). You do business
where you work on the business. And yes, you are selling
something: advertising. I've got clients who do that very
successfully on the web. At least in Colorado, those sales
aren't subject to sales tax; you'll need to check with MA
what their sales tax rules are.

--
Tom Healy, CPA
Boulder, CO
Web: http://www.tomhealycpa.com

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"randommale9999[at]aol.com" <randommale9999[at]aol.com> wrote:

- quote -

I heard Bill Clinton tell the world he did not have sex with
that woman, Ms. Lewinsky.

- quote -

You sell advertising.

- quote -

Yes and yes. From now on, don't take tax advice from
non-tax people.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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I'm looking to set up a Nevada S-corp to bypass paying state
taxes because I read everywhere that it can be done.

I live in MA and run a business that is only a web page
where I earn advertising revenue. I don't sell anything.

If I set up a S Corp in Nevada, will I have to pay state
taxes? Will I have to Register in MA as a "foreign corp" or
notify them at all?

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