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tchandy

tchandy

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GlobalWealth said:
For a corporation, it doesn't matter. Corporations offer no outside creditor asset protection anyway, no matter what state you are in. Your corp needs to be in the state where your business has nexus, which for you would be TX.
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Thx for clarifying that. Since the lawyer was from Texas I wanted a second opinion. ++
 
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GlobalWealth

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tchandy said:
Thx for clarifying that. Since the lawyer was from Texas I wanted a second opinion. ++
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of course this begs the question, why do you want a corporation to begin with? I rarely see a situation where a corp offers any benefit over an LLC. and for LLC's the state does matter. TX is not really a good state for LLC's.
 
tchandy

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GlobalWealth said:
of course this begs the question, why do you want a corporation to begin with? I rarely see a situation where a corp offers any benefit over an LLC. and for LLC's the state does matter. TX is not really a good state for LLC's.
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I have real estate properties in Arizona and Hawaii. I was planning to buy properties in Texas but before doing that I wanted to start placing my properties under LLCs. I wanted to get started with the corporation process but got busy at work and delayed getting this done.
 
GlobalWealth

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tchandy said:
I have real estate properties in Arizona and Hawaii. I was planning to buy properties in Texas but before doing that I wanted to start placing my properties under LLCs. I wanted to get started with the corporation process but got busy at work and delayed getting this done.
Click to expand...

A corp is a bad option for owning RE.
 
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