I'm based in Michigan.
The publishing company will initially be a vehicle for my own music, but I'm hoping to expand it to other artists as a quasi-record label.
So being a small, personal operation, the tax rate is not a major concern, as far as which state to file - but it always could be.
I know that filing an LLC in my home state of MI is only $50, but I also know there's a reason why people choose to file in Delaware or Nevada rather than their home state. But, unfortunately, I'm *not* exactly sure what those reasons are.
Also, I'm not sure if I should be filing as an S-corp, C-corp, or an LLC. In the present day filing as an LLC might make the most sense, but in a best-case scenario (i.e. success), there might be an impact.
Clearly my head's above water here, so I would greatly appreciate any guidance that can be provided to me.
Thank you very much.
The publishing company will initially be a vehicle for my own music, but I'm hoping to expand it to other artists as a quasi-record label.
So being a small, personal operation, the tax rate is not a major concern, as far as which state to file - but it always could be.
I know that filing an LLC in my home state of MI is only $50, but I also know there's a reason why people choose to file in Delaware or Nevada rather than their home state. But, unfortunately, I'm *not* exactly sure what those reasons are.
Also, I'm not sure if I should be filing as an S-corp, C-corp, or an LLC. In the present day filing as an LLC might make the most sense, but in a best-case scenario (i.e. success), there might be an impact.
Clearly my head's above water here, so I would greatly appreciate any guidance that can be provided to me.
Thank you very much.
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