Anyone know if there is a difference in setting up an LLC in Nevada vs. Wyoming? We are in Georgia. I know you need an agent in both states if you don't live there. Just wondering if there's a difference in asset protection or if they are equal.
Janie & Larry
Hi Janie -- I am not licensed to practice in Nevada, Wyoming, or Georgia so please consider this my 2 cents and not legal advice. Set up your LLC in Georgia. You generally have to have an agent when the LLC is out of state. Your Georgia LLC, insurance, and possibly buying in a land trust, should help protect your assets. Since you are just starting, having a hefty insurance policy along with umbrella coverage may meet your needs.
Thanks, Al & Teresa!!
I will second the motion. If you are going to use an LLC, set it up in the state where you will be owning the property.
I absolutely agree, i would set up in your home state especially if you are just getting started,the hassle of keeping up with the fees from multiple states just isnt worth it! I have my S-corp set up in WY but I do business in GA ,being new and listening to the GURUS had me doing things that weren't necessarily needed at the time
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