Don't waste your time going to these states. Just go to the state where you're conducting actual business.

If you're sleeping on a pillow in the state of Oklahoma out of the majority of the year, you're an Oklahoma citizen and you're going to pay tax in Oklahoma.

Don't think Saturday and put an LLC somewhere else is going to help you.

You are going to make more money focusing on what you do rather than trying to figure this out and

waste your time and effort. Once you start making $40,000 or $50,000 or more, you don't want to be

taxed as an LLC. You want to be taxed as an S-Corp.

Welcome everyone to the Main Street Business Podcast. This is Matt Sorrenton joined by the great

and powerful Mark J. Kohler. I was willingsen joined by the great and powerful Mark J.

Kohler.

I was waiting for Oz, the great and powerful Oz.

No, no, no, just great and powerful. Okay, great powerful. Okay, I love it. Wizard of Oz. Such a great show. That was a classic. It was a classic as a kid. Thank you for that wonderful introduction. We're excited to have you all here. this is a big topic, so much misinformation out there on where to set up an LLC,

how to set up an LLC and click, click, click. And then three days later, you're like, what did I do and why? Yeah. So we want to help you. Yeah, we want to help you figure this out and tell you what state to go to. Mark and I happen to be real lawyers helping clients across the country. We have a law We set up 500 entities a month, guys, for clients across the country.

Mark and I have done the 10,000 consults. We want to cut to the chase and tell you what you need to know in a few different situations. It might be different if it's a rental or an operating business or maybe there's a specific asset protection strategy you're chasing. We're going to hit those so you know what state to go to

and we're going to bust a bunch of myths. There's so much BS on this topic. There's like more

misinformation when you Google this than accurate information. There's also a lot of information

that doesn't apply to you and you just don't know it. So we want to go over this and try and sort

through it. Yeah. And some of our biggest competitors are not lawyers. And they're selling LLCs for more than we charge. And I know it's hard to find a lawyer that can be creative and think outside the box. We get that. But we're not that lawyer. And if you want to confirm and verify anything we say, get it from a legal source, not someone on the web that's not licensed, making promises. Call them up and go, hey, will you put this in writing and stand behind it? Well, you know, I just done it myself and I've done research. Are you licensed to do this? You know, be careful where you're getting your advice. So with that said, we're grateful you're here. Let's get into it. I'm going to probably talk about what I think is the number one place you see LLC's. Okay, and you tell me if I'm wrong. The brand new small business owner, side hustle, starting a business, and everybody's like, ding, I got to set up an LLC. They don't know why, but they're like, I got to set up an LLC. And so they start to go to the web and they could live in Oklahoma, Texas, Florida, New Jersey, wherever. And they go, I need an LLC. I just started a business. And they go to the web. Oh, I'm supposed to set this up in Nevada or Delaware or Wyoming. Okay. First train wreck begins. Yeah. Now, let me say why. would you say that's number one place? That's number one

reason. And unfortunately, there's different reasons people are promoting those three states. A lot of

people think of Delaware. Remember Elon Musk? Guys, let's not remember. Let's not forget

Elon Musk had to move his company from Delaware because of the BS laws there to Texas. And Delaware traditionally was if you were going

to have shareholders and raise money and be a publicly traded company, Delaware was very

friendly to management, friendly to Wall Street. And so friendly to Wall Street. And so that's

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