All Forum Posts by: Raj A.
Raj A. has started 10 posts and replied 53 times.
Post: Should I setup a Delaware LLC for a property if it's not located there?
- Posts 54
- Votes 14
Super helpful and useful; makes a ton of sense Katie. Thank you for such a thorough response.
Post: Should I setup a Delaware LLC for a property if it's not located there?
- Posts 54
- Votes 14
Quote from @Chris Seveney:
Quote from @Raj A.:
If and when the time comes, I know many of said it is best to setup an LLC for the property you intend to purchase ("123 Main Street LLC") for a variety of legal/financial reasons. I also know in general, Delaware offers a very friendly business environment, hence why many companies choose to setup an LLC there even if they are out of state. Do others here setup Delaware LLCs when their property is not located in Delaware? What are the pros/cons? I know for California for example, I'd also need to pay registration fees with the State Franchise Board, etc.
Thanks,
Raj
I have the LLC in the state I am living in. When LLC laws first came out Wyoming and Delaware laws were very favorable but all the other states have caught up. Its just a matter of how much more money you are gonna spend to open it in multiple states and understand with your CPA if you are paying taxes in that state for assets you own and where company is located are you paying more.
Much appreciated Chris! That makes a lot of sense.
Post: Should I setup a Delaware LLC for a property if it's not located there?
- Posts 54
- Votes 14
If and when the time comes, I know many of said it is best to setup an LLC for the property you intend to purchase ("123 Main Street LLC") for a variety of legal/financial reasons. I also know in general, Delaware offers a very friendly business environment, hence why many companies choose to setup an LLC there even if they are out of state. Do others here setup Delaware LLCs when their property is not located in Delaware? What are the pros/cons? I know for California for example, I'd also need to pay registration fees with the State Franchise Board, etc.
Thanks,
Raj