This means that to benefit from the separation between my personal assets and the company’s assets, I need to establish the LLC in New York State.However, I’ve found that the start-up costs and procedures for opening an LLC in New York State are significantly higher and more complex compared to other states (such as the requirement to advertise in several newspapers for an extended period).

If you have an LLC, the accounts should be business accounts in the name of the LLC.

Since the properties are in our LLC, would the same capital gains tax rules apply or no?

I would like to start an LLC that way I don't have my personal name attached to it.

I do have a holding LLC and an LLC within.

So, since this is a ranch that he sells hunts under his LLC, the ranch can count toward being an investment property as well as a primary residence?

What would be the pros and cons of having the title under LLC vs trust vs individual.

@Laurel Williamson There are no major tax implications and any interest payments can be deducted by the LLC.

As the title says, what would be the NAICS code for a Real Estate Holding LLC?

We are going to be buying property and building a spec home shortly and need to understand the pros and cons of doing this deal through an LLC vs. as individuals, from a tax perspective.