LLC advice on which state. TX or MS?

[Kevin Jung]

Hi, Quick background: I live in TX, but temporarily in MS for work. I found an awesome investment property in MS and currently looking at hard-money & refi after. I have 2 rentals in TX that are not in an LLC.

After looking at all the pros and cons, I decided to set up my first LLC.

Question: If the property I'm purchasing is in Mississippi (Rental-buy & hold), should I create one in TX or MS? Is there a potential risk of double taxation between the two?

[Susan Maneck]

My mother has an LLC for her self-directed IRA. It contains a house in Mississippi and a mortgage note for a property in Nevada. She lives in California. After exploring various options we found having the LLC in Mississippi was the way to go.