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What is the best U.S. state in which to form a corporation or LLC in terms of accounting and tax benefits?

I'm considering forming a business. I will be its owner but I want to know (1) what is the best form of business and (2) in what state would it be best to incorporate? I realize there are certain advantages to certain business forms and locations (example: Delaware corporations) but I'd like to know specifics.. thanks.

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Brainstorm Info
Creator:braintrustjoliet
Created:over 12 years ago
Activity:about 1 year ago
Users:7
Ideas:10
Brainstorming Tips: Focus on generating a high quantity of ideas. Don't judge ideas. Invite other people to add ideas.
New Idea: 500 Characters Left
 
10.
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9.
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8.
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7.
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6.
What if the business is a name you want to incorporate and you are wanting to branch the corporation out into multiple venues and areas of interest. Such as restaurants, retails, and distribution. I have been told Nevada is the best... but I an not familiar with the studies just yet! Please inform me~
5.
I was asked this yesterday on Yahoo answers; until you hit $1m in net profits, your need is unnecessary and you would let your acct deal with this, your job is to bring in sales and profits. START where you are.
4.
delaware or nevada
3.
If your business is national or international, incorporate in Delaware (as LLC or Corporation) in case your business becomes big; then you will be able to take advantage of the business-friendly laws of Delaware. Once you incorporate in Delaware, then file for a Certificate of Authority in the state where your business is located or where you do the most business. If your business is localized to a specific state (e.g. a retail store in Texas), then incorporate in that state.
2.
If most of your business is done outside the US, then Delaware should be good.
1.
The state in which you conduct the most business or live in.