So you formed your Series LLC?

[Davon Lowery]

Greetings BP,

Deciding what state to form your LLC is a very important decision and should not be taken lightly. I have seen and heard tons of discussions on the topic of the LLC and in one of the recent podcast, the series LLC was discussed along with its build-in benefits.

Here is California, if you form an LLC the State Franchise Tax board requires an annual $800 tax simply for existing, albeit if one is in business, one can expects expenses. However, the complexity with incorporating the concept of the Delaware Series LLC in California can be prohibitively expensive; insomuch as, California recognizes each series as a separate LLC, ergo $800 tax for each series. This practice is less than attractive, IMHO to any newbie investor; especially when the discussion was to have, at a minimum, 3 separate series, 1 to buy and sell (flips), one to hold (rentals), and one to handle operations(PM or day to day OPS).

So, with that stated, you formed your series LLC : in what state, do you operate solely in that state, if not where else, are you happy with the performance of the serie entity itself

(I.E. the construct), Have you had to defend yourself using the construct, If you could do it again would you and how? Or are you the attorney that constructed the series for a client?

Thank you BP,

Respectfully,

Davon