Q: Best Holding LLC structure(pref. NV) if property in CA but reside in Virginia?
Looking for the best way to structure a Holding company LLC is i currently reside in Virginia for the moment but also have property in CA, but in the future want to open different LLC subsidiaries.
A: The answer to your question really depends on your goals. If you want a number of subsidiaries, you may want to form an S Corporation. But most people who set up an entity for the sole purpose of holding real estate will use an LLC. You should contact a California lawyer and give them more information about what you plan to do and your goals, so the lawyer can find the best structure for your specific situation. Best wishes!
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Since you currently reside in Virginia and own property in California with plans to open different LLC subsidiaries in the future, it may be beneficial to establish a Nevada LLC as the Holding company. Nevada offers favorable business-friendly laws and asset protection benefits. However, it is essential to carefully consider the specific details of your business goals, tax implications, and any legal requirements in both Virginia and California before making a decision. Consulting with an attorney experienced in business and tax law can help you navigate the complexities and determine the most suitable structure for your Holding company and future subsidiaries.
James L. Arrasmith
Founder and Chief Legal Counsel of The Law Offices of James L. Arrasmith
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