Can I form an LLC in Wyoming if I live in California?

Yes, you can form a Wyoming LLC, but California law classifies you as 'doing business' in California. You will be legally required to register as a Foreign LLC with the California Secretary of State ($70) and pay California's mandatory $800/year minimum franchise tax, resulting in paying both states' fees.

At what income should an LLC elect S-Corp tax status?

An LLC generally should consider electing S-Corp status once annual net profit consistently reaches $70,000 to $80,000+. Below this threshold, payroll software fees and corporate tax return costs (IRS Form 1120-S) will typically cancel out the 15.3% self-employment tax savings.

Can non-US citizens open a US LLC without visiting the country?

Yes. Non-US residents can 100% legally own a US LLC. Wyoming is the top choice due to low recurring fees ($60/yr) and zero state personal income tax. Founders obtain an EIN from the IRS using Form SS-4 and can open a US business bank account remotely through fintech platforms.

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