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Updated over 3 years ago on . Most recent reply
Where to setup LLC (can you setup outside state of property)
Hi BP Community,
was wondering if anyone has expertise on this, where is the best state to setup an LLC for an investment property? I just saw a youtube video claiming that if you don"t set it up in the state of the property then you wont be able to do evict a tenant in that state with an out of town LLC. does anyone know if that is true?
Most Popular Reply
Natalie Kolodij
Tax & Financial Services
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- Tax Strategist| National Tax Educator| Accepting New Clients
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You typically want the LLC where the asset/business is
LLC's are a state specific item- so having it where it needs to funciton will likely offer you the best protections
Consult with an attorney
Kolodij Tax & Consulting