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Out of State Investors with LLC's
I am an out of state investor (live in CA) and currently invest in two different states (outside of CA). I created a Wyoming LLC and would love your thoughts on the following:
- Do I need to foreign file in each of the states I own property in? If yes - when do I need to do this by?
- For those of you with multiple LLC's, do you have them under one LLC Holding Company? If so - do you only pay taxes on that one Holding Company or taxes on each LLC?
Thanks in advance!
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Foreign file in the state is individual to the state.
Wyoming you have to complete your annual report by 2/1/21 and give them your $25.
We live in CA and since it's a community property state, we are a single member LLC and so our LLC is a disregarded entity and income/expenses flows through to our personal tax return. I have a great real estate familiar CPA I could refer you to if you'd like.