you should possibly consider setting up corporation in the State of Delaware, which is the most corporate "friendly" state in the country. If your corporation's net income is excess of $1.0 million then a Delaware Corporation would once again be the best place to domicile your corporation.
Of course, in addition to filing your corporate taxes in Delaware, you would have to file your individual tax return in California. The cost of preparing a Delaware tax return would be at least $25,000. I am delighted that your business is booming.
Me? I am just a simple sole proprietor and pay H & R Block about $375 to prepare my entire tax return. |