LLC Set Up

[Carlos Quiros]

Good afternoon all-

I am setting up an LLC for an out of state property (ohio) and my accountant just informed me that I also have to set up an LLC in my home state of California to pay for state, federal and gross income.

Does anybody have experience with this? This is a first hearing that I have to set up a second LLC for my first investment LLC

Carlos

[Chris Seveney]

Quote from @Carlos Quiros:

Good afternoon all-

I am setting up an LLC for an out of state property (ohio) and my accountant just informed me that I also have to set up an LLC in my home state of California to pay for state, federal and gross income.

Does anybody have experience with this? This is a first hearing that I have to set up a second LLC for my first investment LLC

Carlos

you will need to register it in the state, shold not need a separate one. What you probably should have done is register it in california and then setup in Ohio as a foreign entity. This is why its important to speak to your CPA and attorney before setting up LLC's as in many instances you may not even need one and in california save the $1000 a year in fees for having one