Moving an LLC from NV to MD

[Angela DeBorja]

Hello I am a MD resident. As part of a weekend seminar we attended last year, I have an LLC set up in NV and I have it registered as a foreign entity in MD. We have invested inone vacant residential lot in South Carolina under this LLC which we plan to wholesale in the near future but we want to make our LLC domestic to MD.

I was just wondering off hand if anyone knew if dissolving the NV LLC and setting up the domestic LLC under the same name in MD would be okay to do while we still hold the vacant lot? We would like to focus our investing to all MD. I am planning on seeking legal guidance locally.I'm assuming I could go to an attorney to draw up an updated operating agreement for MD? The goals would be fix and flips. Thanks for any advice!

[Manolo D.]

I'm not an attorney and I only know this as a regular businessman. I would form a new llc in your state then sell (in better layman term, eat the NV llc so the MD will absorb and NV will be gone) your NV to the MD. I've done it once. If you want to wholesale the llc to someone including the house, then that is ok. In some states (not CA), you need not to register it as a foreign entity when buying a house in another state (from my short research).