Opening a Nevada foreign LLC

[Lori Sekol]

Several real estate investors and some rental property owners have explained the necessity of a foreign LLC. Specifically Nevada protects you from identity, state tax for some amounts (you simply pay state tax on your salary from the llc), it has "a corporate veil that is very hard to pierce" discouraging people from coming after you with law suits. Others have said just getting an LLC set up in your home state is enough to get started. If you have mortgages and helocs on the properties you own, it in itself protects you. So many questions about a regular llc: member managed, manager managed, disregarded, etc. In the future I would like the option of having an s-corp for my retirement where I can use the money to invest and the profit goes back in tax free.