Setting up new LLC - Wyoming or CA- Regular or Disregarded

[Abhinav Mittal]

Hi All,

I am just getting started and setting up the LLC. I just came from a seminar and got the advise to set up a LLC in Wyoming because fee is less as well as it provides better protection. They also recommended to set it up as disregarded LLC such that taxes flow directly to your personal; this CA FTB never find out about the Wyoming LLC. I am not sure how all this works out and be great to get some advise.

Thanks a lot.

Abhinav

[Frederick Kirk Wendel]

Hello @Abhinav Mittal and welcome.

from what I understand having a Wy LLC and doing RE in Ca is not that simple.

Your entity should be in the state the property is in. (unless you have a multi state Structure to your business.)

Also, The way you set up your tax structure depends on what your Investing in like, flips vs buy and hold.

Many better replies then mine are coming.

including IF you need an LLC to start.

Best wishes