If I have a New Jersey business, should I set up a Delaware LLC? John Kiritsis, Esq. 212 922 0005
Generally, the optimal State with regards to incorporating a business would be the State, where the principal place of business would be located. So if you are looking to set up an LLC, and your business would be out of New Jersey, then odds you 'll be more suited with a New Jersey LLC.
Common ConceptsHaving your business incorporated in the same State, as where you will actually be running your business would make sense, in a number of ways. You would generally avoid the associated costs and complexity with being subject to 2 sets of legal framework red tape.
A Look At Specific Concepts.Although, Delaware is frequently cited as a favorable to incorporate/form a business venture, it may be noteworthy to keep in mind of the following: Delaware is far from being the cheapest State in terms of either starting up a new business venture or for maintaining it. If your business organization would NOT be seeking seed capital from venture capitalists, then your business may be subject to the highly overbearing Delaware LLC statutory legal framework, which is designed to cater to the needs of rather substantially large business organization ventures.