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Updated about 7 years ago on . Most recent reply
Out of state LLC’s for anonymity and asset protection.
I am looking at purchasing my first multi family ~40 units. Would it be wise to structure a out of state LLC (Nevada) for anonymity and asset protection? I currently have an instate LLC which has 4 Properties in it getting ready to add the fifth SFH. But the multi family I was going to put in a separate LLC. Any advice is appreciated.
Thank you in advance,
Terry
Most Popular Reply
- Tax Strategist| National Tax Educator| Accepting New Clients
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@Justin R. The 20% pass through applies to sole props and Sch E's in addition to pass through entities- there is NO tax benefit to an LLC in it's simplest form.
As mentioned this is a question for an attorney- but keep in mind the extra state filings and extra costs associated with them as well or if there is a better way to protect your assets.
