Some useful links
1) http://www.hedgefundlawblog.com/new-jersey-hedge-fund-law-%E2%80%93-investment-advisor-registration-exemption.html
2) http://www.stateregulations.us/
Choosing New Jersey based on following two rationals
1) Easier tax filings if residency and business state are same
2) No state requirements for new jersey towards registering as investment advisors. Many other states requires it.
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