What is the best business and tax jurisdiction for an online only business?

Asked 8 months ago - Brooklyn, NY

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?

Attorney answers (4)

  1. Michael Niels Bruno

    Pro

    Contributor Level 11

    1

    Lawyer agrees

    Answered . 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.

  2. Massimo Paternoster

    Contributor Level 13

    1

    Lawyer agrees

    Answered . 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.

    Attorney Advertising. The information given above is intended to provide general information only and not legal... more
  3. Mona R Conway

    Contributor Level 11

    Answered . 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.

  4. Bruce E. Burdick

    Pro

    Contributor Level 20

    Answered . I suggest you discuss this with a CPA.

    I am not your lawyer and you are not my client. Free advice here is without recourse and any reliance thereupon is... more

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