California LLC Or Nevada LLC Doing Business In CA
If I buy and resell properties in CA where is the best choice for me to create an LLC? Make it CA LLC or Nevada LLC?
If I buy rental properties in CA and I want to put it in land trust with my LLC as a beneficiary - what is the best state for me to create an LLC in - Nevada or CA?
Is there any way for me to avoid this tax:
"Every limited liability company which is doing business in California or has filed Articles of Organization or an Application for Registration with the Secretary of State's Office is subject to the annual limited liability tax of $800."
I understand that even if I have Nevada LLC and rent in CA (live in CA), I have to pay this tax. And being in CA and having Nevada LLC I laso have to file taxes in Nevada.
For rental properties here with very low cash flow - it's deadly.
If you have a good (read creative) tax advisor please PM me his/her name and phone number.
Comments appreciated.
Do a Wyoming LLC...It is cheaper than Nevada.
Dan
Do a Wyoming LLC...It is cheaper than Nevada.
Dan
Do a Wyoming LLC...It is cheaper than Nevada.
Dan
You may want to consider using another entity other than an LLC because of that reason. No way to get around it that I know of.