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12-05-2006, 05:43 PM #1
Renter
- Join Date
- Dec 2006
- Posts
- 1
Using LLC for Real Estate Investment
I have a few questions that I hope someone could help me out on. I am planning on entering into real estate investment / management within the next six months. I have recently formed a Nevada LLC and have a question regarding LLC's use in California.
1) What does california consider 'doing business'. Under California corp. code: 191. (a) For the purposes of Chapter 21 (commencing with Section
2100), "transact intrastate business" means entering into repeated
and successive transactions of its business in this state, other than
interstate or foreign commerce.
I am planning on simply owning perhaps maximum 2 properties with a insurance plan on each of them. Would doing so mean I must register with California, or is it only when I plan to sell them.
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01-07-2007, 08:12 PM #2
Fixer Upper
- Join Date
- Jan 2007
- Location
- Charlotte North Carolina
- Posts
- 32
Yes, you will have to register them California, and you will get to pay their registration tax as well, as California would not want to miss out on a revenue source.
Of course I am not a lawyer or accountant and only relaying my opinion.
thanks
ScottRead My Flipping Houses Blog
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Thank you Thank you very much
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