Updated almost 11 years ago on . Most recent reply

Starting and Creating my business
I am just starting out here. I am in Northern NJ.
I have a goal within the next year to buy, renovate and sell 2 single family homes. I would also like to purchase and renovate a duplex or triplex and maintain for rent. Year two I would like to do the same with an added 2 rental units accumulated.
I have chosen my business name, purchased the website, opened an email account, and a phone number specific for this.
Now my question is
What type of company do I create?
Does the company have to be formed in my own state? We have the worst taxes in the nation for everything.
It was suggested to me that I should create an LLC and on the application there is an option to choose to be taxed as a S or C corporation. Choose how I am taxed.
Is there anything special I need to know or to do to accomplish this?
Who do I go to for this? lawyer, accountant, other?
Thank you in advance for your help and guidance. LLI