Should I Open My LLC In Wyoming or Delware?
Should I open my LLC in Wyoming or Delaware? Well, that's a great question and something we get all the time. And of course, like every freaking thing with taxes, the answer is "it depends"
Let's start with 95% of people..... no, don't open an LLC in Wyoming, Delaware, etc. because "tAxEs BrO". Opening LLC's in other states is generally for anonymity as a famous person or maybe asset protection if you've got multiple millions in assets.
Right, for 95% of people, and that includes me and JT, most people do NOT need a separate management company and multiple states and all this. Do some people? Sure. Shohei Ohtani, Tom Cruise, Warren Buffet... they need stuff like that.
But most of us normies (haha), all the extra paperwork, llc filing fees, tax return filing fees.... right all that admin just adds up and wastes money.
Of course, every situation is different. And here's JT explaining a little more from a video we did a while go. Hey, gotta appreciate the classics, yaknow.
