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Updated 8 months ago on . Most recent reply
Foreign entity and in NY/ "doing business" definition in NY?
I have a few properties in VT held in LLCs. Looking at a property in NY. Creating an LLC in NY is a hassle - all sorts of nonsense about publishing in newspapers for 6 weeks, etc.
I tried to research what it would take to own and operate a rental property in NY with a different state LLC. I discovered inconsistent answers.
NY state website has a broken link to an opinion about what constitutes "doing business" in the state.
It is not clear to me if owning a property and leasing it to others constitutes "doing business" - in some cases it does not.
Does an LLC from another state have to register as a foreign entity in NY to own and rent residences?
Has anyone gotten an answer to that from an attorney or NY state govt?
I tried to research what it would take to own and operate a rental property in NY with a different state LLC. I discovered inconsistent answers.
NY state website has a broken link to an opinion about what constitutes "doing business" in the state.
It is not clear to me if owning a property and leasing it to others constitutes "doing business" - in some cases it does not.
Does an LLC from another state have to register as a foreign entity in NY to own and rent residences?
Has anyone gotten an answer to that from an attorney or NY state govt?
Most Popular Reply
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Creating a New York LLC is not a hassle at all. It's very straightforward and the NY state website is very easy to use. The publishing requirement is a one-time thing. You publish in two different newspapers for six weeks, get proof and submit it and you're done. It's not difficult at all and it's not that expensive.
I challenge you to explain (to yourself) why you don't want to do the publishing. If publishing is too complicated, then the work around will be even more cumbersome.