What does it entail to form LLC in Nevada if I live outside Nevada? I would like to benefit from Nevada's tax/business-friendly laws.
I would be the sole founder a software business. The product(s) would be a web application(s) (online software). And I suppose anyone in the United States might use it.
I do not live in Nevada, nor will I ever. My parents do live in Nevada--perhaps that makes my scenario unique.
Anyone can form an LLC in Nevada or any other state. The process is straightforward (there are several companies that offer packages, etc) but you do need an address in that state. That is usually done via a registered agent firm (which you pay for).
In terms of taxes, it's a bit complex since your primary place of business is typically where you as the CEO/Founder/Work do most of the work. Your state will want a cut of whatever revenue you generate by "doing business" in the state and you would have to file foreign entity paperwork to do business in your primary location.
If you want to pursue a Nevada LLC, I would suggest speaking with a lawyer that handles them. There are several advantages since Nevada does not report their LLC or corporation activities to the federal government and they have no state taxes as well as low fees. The downside is that if your business is outside the state, then you need to technically pay foreign entity taxes to the state you primarily do business in.