For the new small business owner, a common question is, “Where should I incorporate my business?” Some entrepreneurs choose to form an LLC or incorporate where they live, while others opt for a business-friendly state like Delaware or the state with the lowest fees. As you’ll see below, states vary when it comes to formation and annual report fees. It’s tempting to choose the lowest costs available, but keep in mind that the cheapest state to form an LLC or a corporation won’t necessarily save you money.
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