philly company setup

[neekunuvvetopu]

Friend lives in GA and want to setup company in Philly for tax benefits.  Anyone have any insights with this approach?  as far as I know, there is no benefit and he doesn't want to agree.  want to know if I missed anything here.

[ElDiablo]

Any specific reason for picking Philly? An entity is State based and not city.  So for your friend it'll be PA. 

You need a valid physical address in that state to set up an entity.
People pick a state based on the Taxation percentages. Other than that no additional benefit.  Looking at the list, PA has one of the highest corporate tax rate. So, no offense but DUMB idea!

[idibezwada]

PAlo tax benefits emunai uncle...1st time vintunna?

[neekunuvvetopu]

 for the delayed reply.  

 

Thanks for the replies fellas @ElDiablo @idibezwada.  Now.. he says Delaware.