Californian wants Nike Air Max 95 Red White Blue to buy Ohio property
I am meeting with a local CPA to discuss options and the best way to go. I am hoping that she will tell me that I don't need to register in California. Although, considering I will be ideally receiving the cash flow as a Air Max Htm
How do you figure that a beneficiary having an address in CA creates liability for the fee?
Either way, Boots on the ground is critical.
Does it make sense, as far as asset/personal protection goes, to set up a Delaware LLC operating in Ohio (or any other state for that matter)?
Just thought I'd pitch in share my experiences too.
Thank you for all the input.
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I wouldseriously consider whether you need a LLC or whether you can live with umbrella insurance. Technically, the lender has a due on sale clause on just about every loan and can call the loan due when you put a property in a LLC. This hasn't happened much over the last 30 plus years as rates have dropped, but if rates start rising, this clause might be enforced much more than in the past.
resident I would think that is all California is worried about in regards to whether or not they can tax me?
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Per FTB, the filing requirement is as follows:
article about it. At least that's what the pros told me. My CPA's answer at the time was that CA will charge you this fee regardless just because you live in CA. CA has been very aggressive at going after things like this per my CPA.
Realize, you will have to pay the $800 CA fee even if the LLC is set up in Ohio as it should be. Any LLC where the ultimate beneficiary's address is in CA owes the fee. This is different from other states unfortunately as CA is very aggressive about LLC fees.
Owner financed buildings may be an indication that the appraisal won't support the asking price. Or, it may bethe owner simply wants to defer the capital gain.
I live in CA and own out Air Max Black White Red
Also, as mentioned above, you may want to revisit whether or not you really need an LLC to begin with at the present time. I'd say it depends on your current assets, what you are looking to protect, what you are looking to acquire out of state.
of state and I stayed away from LLCs. I wrote an Air Max Independence White
If you are using an LLC, it needs to be in the state where the real estate is located. However, as with any area, it also has its pitfalls. Neighborhoods can change in just a couple blocks.
Some issues to think about.
All LLCs classified as corporations that organize in California, register in California, conduct business in California, or receive California source income, must file California Form 100. His entity is not conducting business in California, not receiving CA source income, nor is registering to do business in California. Consequently, he would not owe the fee.
Nathaniel Busch, CPA
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