InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Across the counter registration takes one day. Posted by Sare_CA on October 27, 2003 at 8:59 PM In Reply to: Across the counter registration takes one day. posted by Ward-CA- on October 27, 2003 at 7:05 PM : : Ward, I just found a buyer for a property that I am flipping and would like to avoid the 3.3% tax here in CA. Is it too late now to form a multiple member LLC? How long does it usually take to form one? : -=-=-=-=-=-=-=-=-=-=- : Gonzalo, : If you visit the Secretary of State’s web site you’ll be advised that it will take months now to process the registration paperwork that only took 10 days or less in 2002. That’s because of the massive personnel layoffs affecting all state offices, including the Secretary of State’s. : However, you can do an “across the counter” registration in just one day if you go to Sacramento and walk your formation documents through the process. The extra $15 bucks it costs will raise your fee total to $85.00 dollars. Ward, What if I have already opened escrow with my buyer. Is forming a multi-member LLC too late, even if it takes only one day? Are there other ways to avoid the 3.3% California tax at this point? Thanks. Follow Ups: I would try it, you've got nothing to lose... Ward-CA- 4:32 PM, 10/29/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : Ward, I just found a buyer for a property that I am flipping and would like to avoid the 3.3% tax here in CA. Is it too late now to form a multiple member LLC? How long does it usually take to form one? : : -=-=-=-=-=-=-=-=-=-=- : : Gonzalo, : : If you visit the Secretary of State’s web site you’ll be advised that it will take months now to process the registration paperwork that only took 10 days or less in 2002. That’s because of the massive personnel layoffs affecting all state offices, including the Secretary of State’s. : : However, you can do an “across the counter” registration in just one day if you go to Sacramento and walk your formation documents through the process. The extra $15 bucks it costs will raise your fee total to $85.00 dollars. : Ward, : What if I have already opened escrow with my buyer. Is forming a multi-member LLC too late, even if it takes only one day? Are there other ways to avoid the 3.3% California tax at this point? : Thanks. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455