Understanding State Income Tax: Your location matters more than where your business entity is set up. Many believe that establishing an LLC or operating from certain states like Nevada shields them from state income tax. However, it's crucial to know that California, for instance, will tax your earnings, irrespective of where your business is registered or operated from.

Consider this: Your server and business might be located in Nevada, but if you reside and earn income in California, the Golden State's taxes are still applicable, just like Matt Damon's success on Mars wouldn't excuse him from California's taxes!

It's essential to be wary of assuming that setting up a business entity in a different state can automatically exempt you from state income taxes. If you're looking to sort out your business structure and ensure compliance, our law firm, @Kkoslawyers can assist you with your entity clean-up. Contact us for expert guidance on navigating state tax nuances and establishing a strategic tax-efficient setup for your business.

#KKOSLawyers #lawfirm #taxes #compliance #tiktoktaxes #taxtok #badadvice #badtaxadvice #Directedira

свернуть