Oklahoma LLC

[Alex Gerasimov]

Is there any LLC tax requirements for Oklahoma. Is there any specials rules for Oklahoma that i must know that might hurt me in the end? Should i even bother in real estate LLC in Oklahoma/

Thank you 

[JJ Gritts]

Alex,

Most people use the LLC for asset protection. You can purchase the property under your name using conventional financing, then transfer to the LLC. Keep in mind you do run the risk of triggering the Due on Sale Clause of the mortgage if you do this. Your LLC will most likely operate as a pass through entity, meaning all the incomes, expenses, and depreciation will flow to you and your personal tax return. It really depends on how you structure it though. It would be best to consult your tax professional and perhaps your attorney to see what would work best for you and your personal situation. The important thing is to get started, don't over complicate things in the beginning.