Cheap? Not in California, and confers no benefits given the large formation and maintenance costs here.
Well, the setup itself is cheap. The administration costs are another story. The 1st year in CA is not so bad, but a minimum of $800/yr going forward. Better to be a sole proprietor than S-corp there if your contractual relationship allows it.
Moral of the story: If cheap living is at the top of your priority list, don't choose California

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