How much will it cost to form and operate an LLC?
Each state charges some type of annual fee to maintain an LLC. In many states, you must also submit an "annual report" or "statement of information," which is a one-page form sent by the state. Some states also have state taxes. Total annual fees for three popular states – California, Nevada and Delaware – are as follows:
- California: A reporting fee of $20, along with a statement of information, is required 90 days after formation and then every two years. An annual LLC tax of $800 is due 75 days after formation and every year thereafter. If the LLC's net income exceeds $250,000, there is a minimum annual LLC fee of $865.
-
Nevada: An Initial List of Managers and Members is due 30 days after formation with a $125 fee. The annual report filing fee is $125. There is no state income tax or franchise tax.
-
Delaware: There is an annual LLC tax of $200 due each June 1, beginning the year following formation. There is no state income tax.
-
Every Other State: Contact a local accountant.
|
