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Misconception to Register Company in Tax Free State!

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Merrisa & Jim wrote on : Sat Dec 08th,2012 Back to Article

Hi, we are a married couple just getting started on a real estate investment business, We are currently attending a Financial Education Class Through the Rich Dad Program, in doing so we were advised to obtain a LLC through 1 of 3 states in which have the better protection laws as far as protecting our personal assets. So we obtained a LLC and EIN # in the state of Nevada. We currently live in the state of Pennsylvania, but recently purchased property in the state of Florida. After reading your post we are now confused. Which state should we have obtained our LLC through and if we can't use the LLC in the state of Nevada how do we rectify our Business name in another state required?

Reply : infotaxsquare.com

Dear Merrisa & Jim:

Thanks for choosing InfoTaxSquare.com for your business needs. You are technically required to register LLC (Limited Liability Company) in the state where you are conducting business. Yes, you can form LLC in the state of Nevada, but since you are physically conducting business in the state of Pennsylvania, you must foreign qualify your company in the state of Pennsylvania too.

To know more about it, please either call us at 516.822.3100 or use following link.

http://www.infotaxsquare.com/display_article.php?id=26

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