Best tax strategy when investing out of state?

[Frank Greco]

My LLC is domiciled in NJ. It holds a couple of LLCs that own property. I'm looking at properties in Florida and may move there. What is the best way to acquire new property in Florida? In a Florida LLC? Create Delaware holding LLC?

Looking for long term strategy to minimize taxes. Existing properties in NJ may be 1031 exchanged at some point in future.

Thanks in advance for the help and Happy New Year!

[Tchaka Owen]

@Frank Greco - Florida doesn't have income tax, which is nice. And creating an LLC here is extremely easy, you can do it online. To the best of my knowledge, Florida LLCs are quite solid. The question really boils down to what you're trying to do and what level of asset protection you seek. There are some BP threads that address this. NV and DE are among the strongest, however TX and one other place round out the top four. Hope this helps a bit.

FYI, I've purchased in either land trusts or FL LLCs, no probs so far.