Just wondering do I need to file a LLC in the state that I am purchasing a property ? or would my home state be suffice? property will be in the name of the LLC
Just wondering do I need to file a LLC in the state that I am purchasing a property ? or would my home state be suffice? property will be in the name of the LLC
Most states would have you register as a "foreign agent/entity". Think taxes. They all want more than their share. ;-) Also, lawsuits are in the state the property is in, not the state you created the LLC in.
Same thing for a Trust created in your home state with property in another? I'm guessing yes for the same reason?
Just wondering do I need to file a LLC in the state that I am purchasing a property ? or would my home state be suffice? property will be in the name of the LLC
Most states would have you register as a "foreign agent/entity". Think taxes. They all want more than their share. ;-) Also, lawsuits are in the state the property is in, not the state you created the LLC in.
Just wondering do I need to file a LLC in the state that I am purchasing a property ? or would my home state be suffice? property will be in the name of the LLC
Most states would have you register as a "foreign agent/entity". Think taxes. They all want more than their share. ;-) Also, lawsuits are in the state the property is in, not the state you created the LLC in.
Same thing for a Trust created in your home state with property in another? I'm guessing yes for the same reason?
Just wondering do I need to file a LLC in the state that I am purchasing a property ? or would my home state be suffice? property will be in the name of the LLC
Most states would have you register as a "foreign agent/entity". Think taxes. They all want more than their share. ;-) Also, lawsuits are in the state the property is in, not the state you created the LLC in. Same thing for a Trust created in your home state with property in another? I'm guessing yes for the same reason?
Correct. It makes sense too. It cuts down on confusion, is easier for the courts to manage and fosters state's rights. The one thing in the equation that doesn't move about the country is the house. It's stationary.