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Georgia versus Maryland LLC?

Does anyone have advice about forming a LLC in Georgia versus Maryland? Pros and cons? I understand that some states have advantages over others.

Thanks!

6 Replies

Conway Anderson
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Conway Anderson Entrepreneur • Advisor
VP of Product at Academia.edu
Why not Delaware or Wyoming?
Tony Leonard
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Tony Leonard Entrepreneur
Founder @nurseVersity @ptVersity | #500Strong (b16)
Maryland is much friendlier to LLC and potential investors.
Cecili Reid
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Cecili Reid Entrepreneur
Integration Engineer at Tin Roof Software
I am extremely interested in what states are better. More specifically new York, Washington, California, DC/Maryland, and Georgia.
Tony Leonard
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Tony Leonard Entrepreneur
Founder @nurseVersity @ptVersity | #500Strong (b16)
In our experience Maryland, is by far.
Conway Anderson
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Conway Anderson Entrepreneur • Advisor
VP of Product at Academia.edu
I can tell you this: definitely do not do your LLC in New York. There are some odd outdated laws that can be a real pain.
3
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Entrepreneur
Couple of notes:
1. There are probably tax benefits for incorporating in Delaware over either of the other two, although you will need to pay a registered agent fee and a fee to qualify as a foreign corporation in other states, in that case (overall, depending on the expected size of your startup, the tax benefits should outweigh the fees).
2. If you want a VC to invest in your business, you almost certainly want to form a corporation, rather than a LLC. Although it is slightly more work (only slightly), an S-Corp has almost all of the benefits of a LLC. Although VCs will ultimately force you to switch to a C-Corp (because they will take preferred shares, which are not permitted by S-Corp rules), this is a simple and painless process. (VCs will probably also make you incorporate in Delaware if you do not originally do that).

Although I am a licensed attorney, please do not interpret any of the above as legal advice or assume a client-attorney relationship has been created. You should consult a local attorney and have a more detailed discussion, rather than relying on these notes.
Charlene Brown, MD, MPH
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CEO & Founder, ReciproCare, Halcyon Fellow
Thanks to all of you for your helpful answers!!
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