Filing Fees For LLCs In Various States
I live in Illinois, and I noticed the filing fee for setting up an LLC here is one of the highest in the country ($500). What is the benefit of incorporating in my home state? Which is the best state in which to have your LLC incorporated?
The disadvantage of forming LLC outside your state is you might have to file "Foreign LLC" in the state where your business operates. If that case, you have to pay and maintain 2 LLCs. Some state such as TX charges "Foreign LLC" much higher that Domestic LLC.
For protectiont, best states for LLC are Delaware, Nevada and Florida. However cost-benefits wise for smaller business, most likely forming in the states where it operates is cheaper.