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February 11, 2012, 08:07:17 PM

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Real Estate Investing Forums  |  Real Estate Investing  |  Asset Protection, Legal and Contract Issues, Income Taxes, 1031 Exchanges (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: A simple LLC question but could not find answer « previous next »
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Author Topic: A simple LLC question but could not find answer  (Read 1055 times)
jsicuran
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« on: December 27, 2009, 04:58:19 PM »

I am a new member and enjoy the layout and content of this forum. I have an S corp for my consulting practice. However, my situation is this; I own an investment property in FL. and use it as a vacation resort weekly based rental type. My spouse and I have done this together in the last few months. We filed our FL license but our simple yet unable to find an answer to this question is this: do we setup up our LLC in NY (where we live and the operate our buisness over the net or do we file our LLC in fl. where the property is located. My S corp is in NY and that is completely seperate and not involved but I just can not find an answer to this question on any on line forums. Do I file in NY where we live and "conduct" business or in FL where the property is and where we pay the sales tax etc. on the rentals?
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BLL
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« Reply #1 on: December 27, 2009, 11:36:20 PM »

Since the LLC conducts business in NY and FL, you organize in one and then register as a foreign entity in the other. Which one goes where is a question for an attorney familiar with LLC law in FL and NY.
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Real Estate Investing Forums  |  Real Estate Investing  |  Asset Protection, Legal and Contract Issues, Income Taxes, 1031 Exchanges (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: A simple LLC question but could not find answer « previous next »
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