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Updated about 2 years ago on . Most recent reply

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19
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7
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Carol Lam
7
Votes |
19
Posts

LLC for rental property

Carol Lam
Posted
Hi,

I live in california, but I find a property that I am interested in.  In california, an LLC costs 800 minimum tax payment.  Is there a way I can set up a LLC outside of california?  If so, which state is the best?  Thank you.

Carol

Most Popular Reply

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59
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77
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Olia Fogel
  • Attorney
  • New York
77
Votes |
59
Posts
Olia Fogel
  • Attorney
  • New York
Replied

@Carol Lam If you are looking to potentially own multiple properties in the future, then I would recommend considering a Delaware Statutory Trust (DST). It has a parent-child structure to separate assets into secure series, similar to a Series LLC, extending liability protections to real estate investments within the structure.
Additionally, DSTs don’t have to pay the $800 annual Franchise Tax owed by LLCs and Series LLCs.

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