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Updated about 11 years ago,
LLC based in CA doing business out of state
I'm about to set up an LLC to purchase my first out of state rental property.
Then I read some forum posts saying that an LLC based in one state & operating rentals in another has to register as a foreign entity in the other state too. That means double the paperwork & license fees ???
Secondly for CA LLC's, the Articles of Organization which has a $70 filing fee (in addition to the business license fee $151) also states on the form that: "LLCs in California may have to pay a minimum $800 yearly tax to the California Franchise Tax Board" Whoa!
Can those of you in CA in similar situation share your experience? Just seems like a lot of trouble & wondering if I should just buy the property in my name & forget about the LLC for now?