<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>pbnjay</author><text>Watch out - Tennessee has an 6.5% excise tax on LLCs which is essentially an income tax if you&amp;#x27;re self employed.&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.tn.gov&amp;#x2F;revenue&amp;#x2F;taxes&amp;#x2F;franchise---excise-tax.html&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.tn.gov&amp;#x2F;revenue&amp;#x2F;taxes&amp;#x2F;franchise---excise-tax.html&lt;/a&gt;</text><parent_chain><item><author>nodesocket</author><text>&amp;gt; Is organized in Delaware, the jurisdiction of choice for many new LLCs.&lt;p&gt;Be aware that if you are &amp;quot;doing business&amp;quot; in California which means you live there you also have to file as a California foreign entity and pay the absurd anti-small business flat tax of $800 a year.&lt;p&gt;This also does not include your state income tax liabilities in California. Just because the LLC is formed in Delaware does not mean you don&amp;#x27;t have to pay income taxes in the state you reside. Delaware is just the legal residence, has nothing to do with income taxes.&lt;p&gt;I moved to Tennessee in January and switched my single-member disregarded entity LLC from California to Tennessee. The annual fee in Tennessee is $400 vs $800 and there is NO STATE INCOME tax in beautiful TN.</text></item></parent_chain></comment><story><title>Stripe Atlas for LLCs</title><url>https://stripe.com/blog/atlas-llc?c</url></story>
<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>mikeleeorg</author><text>This is very important info. I&amp;#x27;ve seen some founders get tripped up over this. Hopefully Stripe Atlas LLC provides support for foreign entity registration and taxes too (I would assume they do).</text><parent_chain><item><author>nodesocket</author><text>&amp;gt; Is organized in Delaware, the jurisdiction of choice for many new LLCs.&lt;p&gt;Be aware that if you are &amp;quot;doing business&amp;quot; in California which means you live there you also have to file as a California foreign entity and pay the absurd anti-small business flat tax of $800 a year.&lt;p&gt;This also does not include your state income tax liabilities in California. Just because the LLC is formed in Delaware does not mean you don&amp;#x27;t have to pay income taxes in the state you reside. Delaware is just the legal residence, has nothing to do with income taxes.&lt;p&gt;I moved to Tennessee in January and switched my single-member disregarded entity LLC from California to Tennessee. The annual fee in Tennessee is $400 vs $800 and there is NO STATE INCOME tax in beautiful TN.</text></item></parent_chain></comment><story><title>Stripe Atlas for LLCs</title><url>https://stripe.com/blog/atlas-llc?c</url></story>