Should I create a LLC or Not?

[Christy Holt]

Hello,

I'm wondering if I should create a LLC? Right now I have a few properties, but hope to purchase 4-5 in the next month. I live in California and have properties in Tennessee. The properties I'm getting ready to purchase will be in Georgia. If I do LLC what state should I form my LLC?

I want to protect my personal assets and do what makes the nest business sense.  Any suggestions? 

Thank you,

Christy

[Dominic Bouchard]

@Christy Holt If you are a resident of CA, and you own a company in another state. You will have to pay the $800 tax on that company. (It shows on your tax return)

So if you want to hold your Georgia property in an LLC, wherever you want to incorporate the LLC, you'll have to pay the CA fees anyway.

There are some ways to avoid that (by incorporating in Nevada for example) but there is much complexity in this scheme, and it might not "make business sense" for you...

I can point you attorneys that can answer that if you wish.

Hope that helps!