Real Estate Investor · Adelaide, South Australia · Member since 2016 · 6 posts · 0 votes
Hi all
I understand there are benefits for registering my LLC in different states. I would like to know which would be the best state for me. It might help to know that I am looking to invest in Phoenix Arizona as my target market.
Also, anyone's experience with Incfile would be great
Set it up in the state you plan to have property(ies). Note, that an LLC owned by a foreign owner will have some special tax rules. The LLC is required to withhold US taxes for the foreign owner. Hire a CPA to walk you through the details. Make sure the CPA has experience with foreign owned LLCs, as some of my fellow CPAs are not aware of these rules.
Set it up in the state you plan to have property(ies). Note, that an LLC owned by a foreign owner will have some special tax rules. The LLC is required to withhold US taxes for the foreign owner. Hire a CPA to walk you through the details. Make sure the CPA has experience with foreign owned LLCs, as some of my fellow CPAs are not aware of these rules.
I went through a lawyer in AZ setting up my LLC, but it was more complicated because I also set up a living trust for all of my properties. That being said, I also changed all of my deeds to my LLC. My LLC is now in my living trust which gives me more asset protection.
Instead of setting it up with an attorney, you probably can go online to legalzoom.com and set one up there.