All Forum Posts by: Ron A.

I have been researching corporate structures and am getting some conflicting information.

A tax adviser is suggesting that I setup an LLC in Wyoming, with a trust as the owner, and with me as the sole beneficiary of the trust.

I read several articles that say I may have to register the LLC as a foreign entity in my state, New Jersey, because I would still be "transacting" in in my home state.

I read some exemptions on what constitutes doing business though:

• (7) creating or acquiring indebtedness, mortgages, or security interests in real or personal property;
• (8) securing or collecting debts or enforcing mortgages or other security interests in property securing the debts and holding, protecting, or maintaining property so acquired;

I'm trying to figure out what the bolded section means as far as owning income producing real estate, it looks like it may be exempt?

Thanks!

Hi, a friend is interested in developing his property and he is trying to decide if applying for a variance is worth the cost.

The land includes 2 properties, about 25' x 75' each and is located in the West Side area.

The properties are located on a block zoned for R1- 1-2 Family.

Just one block over, the area is currently designated as R-3 Multi-Family Mid-Rise.

One architect offered a fixed rate $42,000 fee that includes all of the plans, updates, zoning paperwork, and testimony in court.

Another architect offered $10,000 for just the plans and any updates to the plans.

What criteria would you use for this decision? Legal costs vs income produced over 30 years?

Are there any precedents for more air rights in cases like these or is it just not worth the headache?