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Updated over 2 years ago,

User Stats

4
Posts
1
Votes
Patrick Nicewicz
  • New to Real Estate
  • NY/NJ
1
Votes |
4
Posts

Questions regarding LLC (live in NY, will do business in NJ)

Patrick Nicewicz
  • New to Real Estate
  • NY/NJ
Posted

Hi all,

So I have some questions and I'll try to keep them together and hopefully I'll make some sense of them

- I currently live in NYS and I am planning to create a LLC to keep the properties in that and of course protect my personal assets. I will be mostly doing business in NJ and sometimes in NY if the deal will be right and who knows where the road will lead us. From what I've read and understood, NYS requires workers comp and other insurance when you "sub" out work for example. In NJ from my understanding it does not require that. Would you not register the LLC in NY to avoid that and find a place or even "virtual" office space to register the LLC in NJ?

- Additionally would I be taxed twice for doing majority of the business in NJ but office/residence is located in NY?I

Thank you for any recommendations you can provide!!

Pat

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