I am an engineer that will soon be having a sole client, an Austin, TX based company. I will be providing my services while working from my home office (in NY state); occassionally (say, once in a month or so) I will be flying down to Austin for a couple of days at a time, working out of their office.
For the purpose of getting paid, I'd like to establish an LLC / LLP; My objectives are as follows:
(1) The business entity should pay zero corporate taxes; All taxes etc should be passsed through to me (i.e, as an individual, I will pay taxes only when the LLC pays me a salary)
(2) The business will have as little paperwork to do / keep up (if possible, as little annual report / annual return forms as possible; The scale of the business will be small, so hopefully I should have no costs of lawyers / accountants etc)
(3) Most cost effective -- the costs of opening the LLC/LLP, and any annual reports / recurring fees should be as low as possible
Just to make things clear, I plan to be a one-man shop, doing all of my work remotely, using my laptop (no inventory, office, employees, sales staff etc).
P.S. Will I need to register as a 'foreign LLC' in New York State, where I live? note that I will have no contracts / business engagements there -- I will just be working on my laptop.