From the course: Taxes for Small Business
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Location strategies and taxes
- Did you ever wonder why so many US businesses are Delaware based corporations even though Delaware is home to less than a million people or why Hong Kong companies sometimes have a British Virgin Island registration? Well, maybe you don't spend your time wondering about these things but the bottom line is that where your business is registered can be a very strategic decision. Businesses of all sizes are subject to taxes and levies in addition to federal, state, local, sales and value added taxes, you could be paying indirect levies like unemployment insurance or medical fees and it's not just an issue for the business. If you're considering where to set up a business, individual income tax rates and property taxes matter too as you and your team will be subject to those taxes. Now, this is very specific based on the country, state or city where you live but it's worth exploring whether you can register a business in a place other than where you live or physically do business. If…
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