Hi,We recently (Aug 2024) bought commercial land of around 2 acres. this was part of bigger commercial lot (around 25 acres) which had AG exemption and so the taxes that they paid was around $20 each year. we received a 'AG ROLLBACK' letter from the appraisal district that starting 2025 tax year, we will be taxed at it market value resulting in additional taxes, interest and possible penalities for 3 prior years.

Hi Steve, where did you get your property tax estimate from?

@Jeanette LandI always recommend using a tax professional.

Yes, do the tax exchange if you can.  

To navigate the nuance in the laws properly for compliance and to accurately structure our LLC, I am looking to consult with an attorney who knows immigration + business + tax laws. 

Sure you’ll be taxed on it.

In the unfortunate event someone passes away and the property transfers via probate or a will, that fair market price gets "stepped up" so no taxes are paid.I would check with a CPA, but this is my understanding.

Any advice on what setup is easiest and most tax advantaged?

What paperwork should I keep a paper trail of to make things like taxes and other situations better/easier for myself?

. $800 yearly tax for each LLC.