WalletWelcome to the beginning of MyCorporation’s next Wednesday blog segment: MyCorp FAQs! In this series, we will discuss the questions our customer service team answers on a daily basis. Have a question yourself? Leave it in the comments below!

One of the questions we always get is, “What are the cheapest states to file in?” Though there are plenty of good reasons to file in your home state, filing your business in a cheap state may seem like a pretty good option for the new business owner who’s trying to save every penny he can. Just be sure to do your research on the taxes, foreign qualifying regulations, and state policies of the states you’re thinking about looking at. Just as our latest video, “Where Should I Incorporate,” suggests a lot goes into picking a state to file in. But, without further ado, here are the top ten states with the cheapest standard state fees for both LLCs and Corporations:

Cheapest LLC States:

1. Kentucky- $40

2. Arkansas- $45

3. Arizona- $50

4. Colorado- $50

5. Hawaii- $50

6. Iowa- $50

7. Michigan- $50

8. Mississippi- $50

9. Missouri- $50

10. New Mexico- $50

Cheapest Corporation States:

1. Arkansas- $45

2. Colorado- $50

3. Hawaii- $50

4. Iowa- $50

5. Mississippi- $50

6. West Virginia- $50

7. Oklahoma- $54

8. Kentucky- $55

9. Missouri- $58

10. Arizona- $60, Michigan- $60

Are you ready to file your business today? Have questions on getting started? Give us a call at 1 877 692 6772 or visit us at www.mycorporation.com!

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