The actual business would be an information blog that makes money off of advertisements on its website. No online shopping carts requiring payment processing for sale of physical or digital goods or services.
Main question is what arrangement is best suitable to minimize all federal and state taxes. Income would probably top out at 80,000.
Live in NY state and have no assets like property or financial instruments to protect.
Ran some numbers and seems like it makes no sense to even incorporate until an income of at least 40,000 a year is realized.
What kind of business lawyers would I ask for detailed help with this kind of business?
Contact an attorney experience in business formation. I would suggest the formation of an LLC. This protects you personally from liability and affords you the most favorable tax treatment.
I agree with Mr. Bruno. I do business formations and tell my clients to consult with an accountant for tax treatment. Keep in mind that an LLC has a much higher start up cost. you can be incorporated (Inc.) within a couple of days at a much lower fee rate.
Any business attorney can direct you further. The bottom line is that there is no State better than another one as tax/legal benefits applicable in some jurisdictions may not apply to your situation. Sit down for a consultation and plan your business accordingly. I understand you are located in NY so you can choose among many attorneys here on Avvo.
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Intellectual Property Law Attorney
I suggest you discuss this with a CPA.
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