California Incorporations and LLC Packages
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Those businesses
that operate solely within California and derive their incomes
from California residents, are generally California corporations. Many
businesses also incorporate in a tax-free state such as Nevada or Wyoming. The
California corporation then uses these corporations for various purposes
such as owning the assets of the California corporation to protect
it against creditors or to re-sell products
to the California corporation in order to minimize its profits, thus
decreasing or eliminating California state income taxes. The annual officer list that must be filed is only $25, but, starting the second year, California charges a minimum of $800 per year for Franchise Tax.
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