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CA LLC investing in another state
I would love any help here as I am new to this and trying to ramp up.
We have a California LLC that we registered last year to invest in a JV with another LLC in Mississippi. We are passive investors. Do I need to do anything else (register in MS etc) before we do our LLC taxes? There is no income this year, just expenses as we are still getting the property going.
If there is CPA here that has experience with something similar, I would love to have a conversation.
Thank you!