LLC incorporating in which state

[Jerome Whigham]

I'm at the point of setting up my LLC in which to keep my buy & hold investment properties for the long term in the Buffalo N.Y. & surrounding areas. I'm curious to know what would be the most tax-advantageous,investor friendly state in which to set up my LLC in.I've heard & read about the Delaware Series LLC but I've also heard about Utah & Nevada as being good states in which to form your LLC in.

[Derrick H.]

NYS is very FUNKY when in comes to LLC protection. I have several layers of protection. It's good to have an "S-Corp" and have"LLC" for different things. One for Marketing, one for property Rehab, One for property ownership. A financial adviser told me once that if I were to be sued for one of My "LLC" it will only be for that one instead of the package. Also with an "LLC" my account said fund mixing is different from a "CORP" b/c the IRS wants everything separate.