LLC Owned Arkansas Investment Property - Taxes & Fees
Relatively recently, I purchased a rental property in another state. After the purchase, I found out that the entity structure I want to set up would trigger taxes that, if I keep the house in my own name, I will not have to pay. Disappointing.
My understanding is that, in Arkansas, I'll have to pay a $150 Annual LLC Franchise Tax Report each year if I a buy house in an LLC's name.
Does anyone know if there are other fees/taxes I'm overlooking if an LLC owns the rental property in Arkansas? I appreciate your help!
Thanks,
PJL