Nevada C Corp & LLC & Land Trust

[jagsterr]

So are you suggesting I create another C-Corp so that the LLC can pass the income through it.  

I don't want to mix the two or even get them close to each other because they are not related businesses and have nothing to do with each other.  

I am a residential realtor who gets paid by 1099 and have the opportunity to have a pension plan and a medical reimbursement plans with a S-Corp or a C-Corp.  And so I have one.  This is my livilihoood.

My original question is should I for a AZ LLC for my rental property in Phoenix.  I currently have a CA LLC.  I do not want to funnel one through the other as they have nothing to do with each other.  

Thanks

[mcwagner]

If your goal is to minimize taxes, I'd recommend an AZ LLC taxed as a C-corp and managed so as to avoid CA nexus.

[paratrooper]

This thread has been wonderfully educational.  Now as a brand new investor about to close my first deal, with no structures whatsoever:
1.  where do I start with LLC's?  Nevada, Wyoming, my home state?  
2.  SHould I have an LLC for each property?  
3. SHould I have an LLC for my wholesaling business?
4.  How about a seprate one as I establish a notebuying business down the road?
5.  Does one llc, buy another, that buys another, etc.,?
I do not mind banking online.
thanks for your most valuable input!!! 8)

[Redwing384]

paratrooper
my recommendation is that you first seek a competent CPA and Attorney in your home state.  they will give you the logiastics behind what you are "Specifically" trying to accomplish.  An LLC may not be the right choice. Maybe you will need multiple structures and it could get complex. They will be able to give you the proper advice on the structure.

as for your other questions:  generally speaking

1.  start in your home state
2.  an LLC for each property is not nescessary, but you will have to decide on what is best for your situation.  
3.  talk with a Local CPA about your wholesaling business and what you want to accomplish.
4.  a separate "entity" (C-corp, S-corp, LLC, LP etc...)  for note business is ok also but not nescessary unless you have different goals for each business.
5.  not sure what you mean ...one llc buying another and another...???

what would you be trying to accomplish with a Nevada or Wyoming corp if you do not live or own property in those states???

[paratrooper]

Yes, I will definitely be seeking professional consultation, but I have read things such as the following:
1.  If you are structured right with llc's, you can avoid capital gains taxes.You, the property seller, for the sake of discussion, will send the property through
escrow at the approximate book value of $50,000 to Property Inc.  A title insurance
policy is issued to Property Inc. Now Property Inc owns the property and you, the
seller own the stock in Property Inc.  There are no capital gains because you did not
profit from the trade.  Next, Tax Savings Inc. acquires Property Inc from you by
purchasing the stock of Property Inc for the sum of $50,000, and issues you a
demand promissory not in payment for the stock.  This is an interest bearing note,
even though your paying it to yourself.  It is profit for Tax Savings Inc and a personal
deduction to you.  Remember Tax Savings Inc profit is in Tax Free Nevada.  Now Tax
Savings Inc owns Property Inc.  Property Inc owns the real estate property, and you
own Tax Savings Inc.  Where you are or the property is, can be anywhere.  It is
immaterial.  
2. flipping/ wholesaling:Now comes the buyer.  Tax Savings Inc. sells Property Inc. to the buyer.  You do not
sale the real estate property; you sell Property Inc., which owns the real estate
property.  You sell it for .... $150,000.  Tax Savings Inc has a $100,000 capital gain or
profit, and Tax Savings Inc is a Nevada resident.  No state capital gain tax, no state
income tax on corporations.  No state has any claim against the profit of a Nevada
Corporation.  There is no state tax on it.  It's the American Way.  By eliminating the
cost of escrow, transfer fees and taxes, you more than paid for the cost of your
Nevada Corporation.

Very interesting. Maybe I can do the same thing in my state.  I'll be busy researching.  Thanks again.