Which is better for tax benefits and liabilities, an LLC or a Nevada corporation? :-?
I don't know the details. I'm sure you'll hear about them here. My belief, backed up by experts such as Bill Bronchick, is to incorporate (LLC, partnership, S-corp, etc.) in the state(s) where you do business. It's certainly simpler and I believe in the KISS philosophy.
In CA you have to (legaly anyway) report foreign corps that do business in CA and pay the $800 minimum state tax.
I forgot to mention that most of my properties are in Las Vegas. Does that make a difference? Do I still need to pay taxes in CA? :-?
I don't know the details. I'm sure you'll hear about them here.
My belief, backed up by experts such as Bill Bronchick, is to incorporate (LLC, partnership, S-corp, etc.) in the state(s) where you do business.
It's certainly simpler and I believe in the KISS philosophy.
In CA you have to (legaly anyway) report foreign corps that do business in CA and pay the $800 minimum state tax.
I forgot to mention that most of my properties are in Las Vegas. Does that make a difference? Do I still need to pay taxes in CA? :-?