Forming an LLC.

[Bryan Colton]

I am from NY State and I've been told not to form an LLC. in this state. I was also told to check Utah as a great state to form an LLC. I know I would need an Agent who resides in Utah. There would be no ownership in the homes I purchase and that the Corporation would own the real estate protecting me from lawsuits, and that there are no state level corp. income tax. It was also suggested I contact Veil Corporate to set up my LLC. This needs to be done as my first step to securing financing for my properties. Any siuggestions?

[David French]

Bryan,

Why were you told not to form an LLC in NYS? I currently have two properties in LLC's in NYS and have had no issues. In fact it's quite easy to set up yourself. Go to the NYS Division of Corporations web site, select a name and pay the fee. Once that's completed go to the IRS web site for your EIN number. The last step is to put adds in two periodicals announcing the formation. Check with a lawyer of course to make sure it goes smoothly.