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Updated about 6 years ago on . Most recent reply

Jamil Rivera's profile image
Jamil Rivera's profile image
Jamil Rivera
  • Specialist
  • from Chicago
  • Member since Jun 20, 2018
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Jamil Rivera's profile image
Jamil Rivera's profile image
Jamil Rivera
  • Specialist
  • from Chicago
  • Member since Jun 20, 2018
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Jamil Rivera
  • Specialist
  • Chicago
7
Votes |
23
Posts
Goals, Business Plans & Entities

Starting a Series LLC?

Jamil Rivera
  • Specialist
  • Chicago
Posted

I live in Chicago and I plan on opening my business as a Series LLC. My question would be in which state would it be best to open it and why. Even just a finger point in the right direction will help. Thank you!

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Ibn Abney's profile image
Ibn Abney's profile image
Ibn Abney
  • Rental Property Investor
  • from Chicago, IL
  • Member since Sep 26, 2016
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Ibn Abney's profile image
Ibn Abney's profile image
Ibn Abney
  • Rental Property Investor
  • from Chicago, IL
  • Member since Sep 26, 2016
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Ibn Abney
  • Rental Property Investor
  • Chicago, IL
307
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318
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Ibn Abney
  • Rental Property Investor
  • Chicago, IL
Replied

@Jamil Rivera always best to form in the state the income is generated. If you form you company in Texas, let say, if you ever need to go to court, you have to travel to Texas. Also, you owe Texas taxes for IL income. (as an exAMPLE)

good luck!

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