Olin does business in two states. Alison and Derek discuss options and what factors should be considered in making the decision which state is the ‘foreign’ state.
Identify whether you are actually doing business in both states. Eg: Is consulting a sale in the State of the buyer or the seller.
Your Accountant can identify which State is the best option for Domestic status, there may be additional incentives to be considered (tax credits, student loan credits etc)
The primary reason to make your home state the domestic state is ease of doing business, but there might be tax implications and state legal requirements.
Forms required to change your business status are available online