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All Forum Posts by: Lisa Caro

Lisa Caro has started 2 posts and replied 12 times.

Starting Out

Post: LLC for purchasing bank notes - what state?

Lisa CaroPosted
  • Monroe, NY
  • Posts 12
  • Votes 0

So I have found this blurb online: "Do you have to register your LLC in your home state? Answer: It depends. If the LLC is used simply to hold property or for your online-only business, with no employees and no local brick-and-mortar presence, then probably not. Seek professional advice on this."

It sounds like I would not need to register the LLC with the Secretary of State in Illinois, or anywhere else for that matter. The logic being the note is owned, not the actual property...

It would be helpful if anyone in the know could confirm.  Thanks so much,

0 Votes
Starting Out

Post: LLC for purchasing bank notes - what state?

Lisa CaroPosted
  • Monroe, NY
  • Posts 12
  • Votes 0

Hi everyone! I am currently forming a NM LLC, but live in NY. Let's say I purchase (performing or non performing) bank notes from a lender in Illinois. Do I then register my LLC in Illinois?

I've looked for this information on the web, but can't find anything about this small, but important detail....  Thanks!

0 Votes