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Updated about 4 years ago,
LLC for Joint Purchase - NJ and CA partners investing in PA
A friend @AlisonK8 and I are considering a 50/50 partnership where I would fund a greater portion (or perhaps all) and they would apply for the loan based on their credit score. Many questions arise - where to set up the LLC. Would she be setting herself up for a CA tax liability (where I live) when she's in NJ and the investment is in PA? We are thinking to establish the LLC in PA where the property/properties would be. What should we consider? Is it best to start with a lawyer to draw up the agreement or an accountant to discuss the CA implications and where to set up the LLC? We are buy and hold investors.