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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Domestic vs foreign entities... Posted by Brent Carlson on April 26, 2008 at 3:04 PM In Reply to: Re: Domestic vs foreign entities... posted by hard money lender on April 25, 2008 at 5:47 PM It is my understanding that even if you have a foreign LLC or Corp by the very act of doing business or holding property in CA triggers the $800 a year fee. So foreign entities will not get you around that issue. I hope this helps and Ward please correct me if I am wrong because it would save me $800 a year if my foreign entity could do business in CA without having to pay the fees Brent : thanks ward, : i hope i dont have to get involved with llc's. but if i did, i was also hoping i could stay away from calif. : but there must be a good reason why you create the llc in the state where the property resides. : i did some reading on both llcs and land trusts - there was mention that out-of-state was more difficult for attorneys to deal with, so that might be better, from a protection standpoint. : i am guessing that they were talking about the trustee of the land trust, which in your case would always be an in-state llc. : always nice to hear from you. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : It is my understanding that even if you have a foreign LLC or Corp by the very act of doing business or holding property in CA triggers the $800 a year fee. So foreign entities will not get you around that issue. : I hope this helps and Ward please correct me if I am wrong because it would save me $800 a year if my foreign entity could do business in CA without having to pay the fees : Brent : : thanks ward, : : i hope i dont have to get involved with llc's. but if i did, i was also hoping i could stay away from calif. : : but there must be a good reason why you create the llc in the state where the property resides. : : i did some reading on both llcs and land trusts - there was mention that out-of-state was more difficult for attorneys to deal with, so that might be better, from a protection standpoint. : : i am guessing that they were talking about the trustee of the land trust, which in your case would always be an in-state llc. : : always nice to hear from you. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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