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August 7, 2016 at 2:27 pm #765beavrGuest
Tax- and legal-wise.
Can you suggest some professionals who can consult on that matter?August 7, 2016 at 2:27 pm #766JayGuest
The state where you’re doing business.August 7, 2016 at 2:28 pm #767beavrGuest
it’s not always smart businesswise from online business perspective and there are many reasons to choose wise what state to incorporate in. and by ‘state’ i don’t mean US statesAugust 7, 2016 at 2:28 pm #768GayDemonGuest
Well it does depend on where you are based or able to open up something.
If you are in Europe you could maybe look at Cyprus, there is a fair few adult companies there however like everywhere else you have to hide that it’s a adult business that you operate. It’s not easy to run a company in a European country unless you have a real base in the there, mainly because of banking. The UK is probably one of the worst countries to be in at the moment, so stay away from there.
Canada seems to be ok too, several larger programs are based there.
Offshore locations are not easy to use due to banking.August 7, 2016 at 2:28 pm #769JayGuest
Well, within the US (assuming that’s one of your options), if you’re talking about a Subchapter S or LLC, then the business profits flow through to the individual. On a tax level where YOU live is all that matters. So you might as well incorporate the business where you pay personal taxes.
And, if you’re a US citizen, then you owe the US government tax no matter where you live. (Though you won’t owe a state if you’re living outside the US).
Unless you want to start a brothel or escort-related business – then you need to incorporate in Nevada. (As Rent Boy can attest to).
If you’re talking about a C corp, then you’ve got a much bigger business and you really need a corporate lawyer and accountant and you should be asking them the question – not a random people on the Internet. Hell, that’s probably true of the other two as well.
That said, I hate how the State of NY treats small businesses so much that I now refuse to hire New Yorkers. It’s just not worth the hassle. At one point they were coming after me for $120,000 of workers’ comp when I was the only employee (and owners are exempt from paying workers’ comp). In tax matters your guilty until proven innocent, so NYS uses that to their advantage and find you guilty of everything they possibly can and then make you prove the contrary. It’s a huge hassle.