LLC with a few investors

[Armand P.]

Hi

A few investors and myself are going to create an LLC. My question is would the LLC be created in the state in which we will be investing in?

Second, since I live in California and will be investing out of state how could I find out if I'd be subject to double taxation.

Lastly, would each member of the LLC get a copy of a 1099 for profits/loss at the end of the year. If the profits go into the LLC and get disturbed 1/3 what negative impact if any will it have?

I just want to cross my dot my I's and cross my T's b/c I know uncle Sam gets his share somehow...

Thanks!

AP.