foreign corporation

[Robert D.]

hey gang,

so i have been looking to finally protect my assets with an llc. my question is, is it worth going with a wyoming or nevada llc? i live in ca so i know i would have to foreign file here in ca. im sure it will be an extra expense having a foreign llc but am willing to overlook the extra expenditure if it will ultimately protect my assets BETTER than what a california llc can do...looking forward to some words of wisdom. thanks in advance

[Steven Hamilton II]

Robert,

You will be subject to the LLC laws in that state. So your idea to protect your assets will not be increased. So you will only cost yourself additional filing fees as well as the possiblity of additional state income taxes depending upon the state your LLC is from.

Btw, you can use the search function to find many topics such as this that have been discussed.

-Steven the Tax Guy

Your guide to IRS laws, rules and regulations