Trucking: LLC, forming an llc, llc company


Question
Dear Mr. Bowers,
We have recently become owner operators and would like to become an LLC company? We reside in tennesse but travel 48 state OTR. I keep reading that forming an LLC in NV,WY or DE has better tax advantages for small business. Is it really best to establish in one of those states? Or will I just be double taxed because my home base is tennesse?

Answer
Cat, at the federal level it won't make any difference.  You will need to check out the regulations and applicable state taxes in each state to see if there is any advantage of one over another.  You may need to register as a foreign entity in the states you run through but it's probably best to get professional legal and tax advice before deciding.  Best of luck in your venture.