Ask HN: Solo app-developer, to incorporate or not incorporate?
So I'm working on an iOS app that could bring in a fair amount of revenue (compelling product with no direct competitors).
What I'm trying to ascertain is whether it makes sense to try to incorporate/start an entity or to publish as an individual. Anyone with some experience on either end care to chime in? I don't ever expect this project to go beyond me and the single app.
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If you go the single member LLC route (which I found in my case was overkill), note that California has an $800 minimum tax. If you register in Delaware and want to do business in your local state (e.g. open a bank account), you'll probably have to register as a foreign corporation and pay any applicable local taxes in addition to Delaware's fees.
The problem with incorporating is that I've heard that the legal shielding properties of corporate (or llc) status are not that protective for sole-proprietors and that the company's liability is still the owner's liability.