What state has the best Real Estate LLC benefits?
I own 3 real estate properties in Las Vegas, including the one i live in ...
I 'm interested in opening a Real Estate LLC.
- I would like to know if the LLC can be registered in a different state, even if the properties are in Nevada so if possible, I would like to known what state would offer the best benefit as far as taxes, fees, coverage etc.
Thanks for reading.
- loanmasteroneLv 78 years agoFavorite Answer
Nevada and Delaware are the two states normally associated with ease of opening a corporation or LLC. These two states do not charge income tax. Also in Nevada they do not cooperate with the federal government in locating corporate owners.
You may purchase a purchase property in any state under the LLC or corporation as you would as an individual. Taking title to property has nothing to do with the entity in which hold title to the property.
If you decide to corm a corporation or LLC in any other state than you reside most states require a resident agent in the state the corporation is formed. This agent normally cost anywhere from $50.00 to $125.00 per year depending on what services you require of them. Most simply require the use of their address to satisfy the residency requirements of the state.
You might would want to check with the Secretary of State in Nevada to find out the requirements to form the type entity you would like to form and the cost of forming such an entity. Normally you would be able to do this yourself as the paper work is not difficult. If you think there might be problems there are many companies that would be of assistance in assisting you. You might google forming a corporation followed by the state in which you would like to form this LLC.
You might also look into the tax consequences of the type LLC, or corporation you would form. There are many advantages to forming one or the other. Select the best that suit your financial situation.
I hope this has been of some benefit to you,good luck.
- LandlordLv 78 years ago
No, you need one in the state the properties are in.