Bank Account for an LLC

[Denise Roman]

Hello everyone 

I'm in the process of purchasing a rental property in Idaho I have an Idaho LLC and need to open a bank account but I live in California and they want me to register in California Does anyone have any suggestions on which banks I can go through or should I go to to Idaho to open the acct.

[Katie L.]

@Denise Roman

If you're managing the LLC from California, the FTB deems you to be ‘doing business' in CA. That requires you to register in CA as a foreign LLC and pay the $800 annual fee. Talk to your CPA or attorney about it.

* this post does not create an attorney-client or cpa-client relationship. The information contained in my post is not to be relied upon. Readers are advised to seek professional advice.