LLC
In Texas there is franchise taxes for LLC and Corp. If you have an out of state LLC/Corp then you could be subject to Foreign Corp Tax. We currently run all properties through Land Trust.
One attorney felt if the LLC out of Nevada was the Owner(trustee) of the Land Trust, that would not constitute doing business in Texas and not triggering State Tax.
If anybody has any quidance on this I would appreciate it.
Some issues would be
1. If you have out of state LLC how does it work with registered agent and getting mail.
2. Does anyone have experience working with out of state LLC and any tips to pass on.
3. Is there some other way to stucture this to get same benifits like Limited Partnership with General Partner being LLC.
Thanks[ Edited by firepro on Date 02/23/2003 ]
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