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FAQ

What is the best state to set up an LLC?

Wyoming. Corporate tax rate: 0 percent. ... Alaska. Corporate tax rate: 9.4 percent. ... South Dakota. Corporate tax rate: 0 percent. ... Florida. Corporate tax rate: 5.5 percent. ... Nevada. Corporate tax rate: 0 percent. ... Montana. Corporate tax rate: 6.75 percent. ... New Hampshire. ... Utah.

Can an LLC own real estate in another state?

In general, you should be able to use an LLC in any state as a vehicle to own real estate in any other states. However, some states might require your out-of-state LLC to register as a \u201cforeign LLC\u201d in that state, which can mean additional paperwork is required.

Do I need an LLC for real estate investing?

Not only should rental properties be placed under an LLC, but each property in a respective portfolio should have its own separate LLC. Not only will filing as an LLC award investors with great tax benefits and asset protection, but each subsequent LLC will provide another layer of protection.

How do I make my real estate an LLC?

Set Up the LLC for Your Real Estate Holdings. ... Open Separate Checking Accounts. ... Choose a Professional to Work With. ... Find a Property & Get It Under Contract. ... Secure Financing for Your Rental Property. ... Close on the Property.

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