McStartup

Marusia wrote:

My friend and I are starting a retail business and want to go with a NY LLC. When we are up and running, developed a great product and are ready to raise money and go big, we will convert into a DE C corp.  The reason we want to go with a NY LLC are as follows...

You're all good here, I suspect.   I don't know the details of one state's LLC vs. another, so you should consult a lawyer for the good legal advice on this.  However in general, an LLC in your state is just fine.  If you are going to have investors, the I would suggest switching to a c-corp down the road.  Not necessary, but in my experience it's more flexible.  Likewise if you get into employee stock options and the like.

Either way for a startup getting off the ground, I usually recommend LLC and the state you live in should be just fine.

Jeff