Hi folks,
My client has a partnership (select Scorp) that registered with state of NM.
Physical location of the business in VA.
Address registered for this business in WV.
Which state should I file this business state tax return?
Definitely VA if business is conducted there.
What does registered with NM mean? Formed there? Or something else.
What connection does the WV address have to the business?
It was the firm of Dewey, Cheatum and Howe.
Yes it's formed with the state of NM
Don't blame lawyers. Blame public mistrust of lawyers. Remember, more than a third of members of Congress are lawyers. So people rely on what they find online instead.
"New Mexico has privacy policies that keep the personal information of business owners from the public through anonymous LLCs. . . .Although New Mexico LLCs are relatively cheap to form, the state implements a corporate franchise tax that needs to be paid even if your business doesn’t sell anything. As long as your company is set up and registered in New Mexico, you would have to pay a minimum of $50 for the corporate franchise tax."
https://www.doola.com/blog/wyoming-vs-new-mexico-llc/
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