Skip to Main Content
Limited Liability Companies For Dummies, 3rd Edition
book

Limited Liability Companies For Dummies, 3rd Edition

by Jennifer Reuting
July 2019
Beginner content levelBeginner
368 pages
10h 26m
English
For Dummies
Content preview from Limited Liability Companies For Dummies, 3rd Edition

Chapter 5

Choosing the Best State for Your LLC

IN THIS CHAPTER

Bullet Deciding between your home state and another state

Bullet Looking at states with the best tax and privacy laws

Bullet Understanding what a registered agent can do for you

Say you’ve lived in California your entire life, and now you want to create an LLC all the way across the country in Miami. That’s where you believe your retirement community real estate project will have its greatest chance to flourish, but you worry that because you don’t live in Florida, you’ll have trouble establishing your LLC. Not to fret: Many LLCs have different home states than their owners.

It’s a common myth that you need to form your LLC in the state in which you live. LLCs are considered incorporated entities, which means that if you maintain them properly, a layer of separation exists between the business and the owners. Think of an LLC as an individual over which you have full control. Like an individual, your LLC can live in whichever state benefits it the most. Sandy beaches and nice weather may be the appealing qualities of the state you choose to call home, but your LLC will benefit from other qualities, such as low taxes, privacy, and favorable ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Limited Liability Companies For Dummies, 4th Edition

Limited Liability Companies For Dummies, 4th Edition

Jennifer Reuting
Corporate Finance, 5th Edition

Corporate Finance, 5th Edition

Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann Le Fur, Antonio Salvi

Publisher Resources

ISBN: 9781119602187Purchase book