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Updated about 9 years ago on . Most recent reply

User Stats

736
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Calvin Thomas
  • Developer
  • New York City, NY
629
Votes |
736
Posts

New York LLC vs New York Inc - Which is better??

Calvin Thomas
  • Developer
  • New York City, NY
Posted

Hey all, I wanted to run by a question to the seasoned vets here at Bigger Pockets. I am in the process of purchasing a couple of properties in southern New York for rental income. There will be no mortgage on either, and they are both cash deals. Each one will be in their own entity. Normally, when I buy them in other states, like CT or NJ, I just put them in a LLC, which in turn, is owned by my main LLC. However, NY has the dumb rule of making each LLC publish themselves as soon as filing, which could be an additional 500.00 per LLC. Would it be better to just form it into a Inc instead? Am I losing any protections when switching from an LLC to an Inc?

Thanks.

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