Opening an out of state LLC
I am interested in opening an LLC in order to build credit for future real estate investments. I've read online about the benefits of opening LLCs in Wyoming but I still have several unanswered questions.
1. If I open a Wyoming LLC and transfer ownership of my Texas property to the LLC, will I have to register the business in Texas? The goal of transferring title to the LLC would be partially for asset protection, but mainly to establish payment history and credit for future investments.
2. If I incur business expenses in California will I have to register the LLC in California? California appears to charge $800 for the LLC annual fee so I want to make sure I wouldn't be required to pay that.
3. How does the state income tax work for those living outside Wyoming? Will I have to pay California state income tax since I live in California and Wyoming LLCs are pass through entities? Would it be possible to keep the LLCs earnings in the LLCs bank account until I move to another state with lower taxes?
Once again, the purpose of the LLC is mainly to build business credit, so any input on how to accomplish that with minimal expense would be appreciated. I figured I could begin this process by transferring my mortgage (hopefully they will allow the transfer if I personally guarantee the loan) to an LLC and making consistent payments.