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Updated over 4 years ago,

User Stats

12
Posts
2
Votes
Lea Hong
2
Votes |
12
Posts

Do I need a new CPA and a new LLC after 1031 in another state?

Lea Hong
Posted

My Cousin and I have LLC in California, and under the LLC we have a parcel of land. We registered the LLC in California and our CPA is in California as well. Both of us are not U.S. citizens or Greencard holders.

Due to some issues with the land, we decided to sell the land and to exchange for an apartment building in another state (we are looking at AZ, CO, FL, and TX, if that's necessary). 

My question is: do I need to register a new LLC in the state where the building is located, then transfer the replacement property from California LLC to the new LLC? Also, can my CPA in California open a new LLC for us?

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