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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Why do most of the pros take title as an LLC at the sales... Posted by BrianH on November 13, 2009 at 2:38 PM In Reply to: Why do most of the pros take title as an LLC at the sales... posted by Minnie Me on November 10, 2009 at 4:12 PM : I compiled all the data on Orange County, CA third party sales for : the last six months. There are a lot of trusts used to title : property but overwhelmingly they use LLC's. Why is this? Do they : transfer out of the LLC after they record the trustee's deed? : LLC's aren't very efficient tax wise to use in CA for this kind of : thing. Are clarity would be great! At the risk of sounding in-experienced here on this front because I do all business through an corporation and am exempt from the CA withholding. When selling a property the escrow company has you sign a form declaring you are exempt from the CA withholding. If you declare you are exempt regardless of how you hold the property what would happen? Escrow doesn't care, or at least mine doesn't seem to, and at the end of the year CA gets her share anyways in theory. Just curious. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I compiled all the data on Orange County, CA third party sales for : : the last six months. There are a lot of trusts used to title : : property but overwhelmingly they use LLC's. Why is this? Do they : : transfer out of the LLC after they record the trustee's deed? : : LLC's aren't very efficient tax wise to use in CA for this kind of : : thing. Are clarity would be great! : At the risk of sounding in-experienced here on this front because I do all business through an corporation and am exempt from the CA withholding. When selling a property the escrow company has you sign a form declaring you are exempt from the CA withholding. If you declare you are exempt regardless of how you hold the property what would happen? Escrow doesn't care, or at least mine doesn't seem to, and at the end of the year CA gets her share anyways in theory. : Just curious. [ 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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