What is the name of your state? I am in the military and am stationed in Virginia. However, my home of record is Texas. I have bought an investment property. I would like to set up a LLC to protect myself in case something goes wrong in the house.
Several questions:
1. Can I set up the LLC in Texas and buy a house in Virginia? The reason is Texas doesn't charge state income tax, Virginia does. It would be beneficial to set it up the LLC in TX. Also my taxes are going to get very complicated if I have a LLC in VA but file TX as my state of residence.
2. If this is too complicated to be solved with free legal advice should I visit a CPA or try and find a good tax lawyer to help set this up?
Thanks for your time.
Several questions:
1. Can I set up the LLC in Texas and buy a house in Virginia? The reason is Texas doesn't charge state income tax, Virginia does. It would be beneficial to set it up the LLC in TX. Also my taxes are going to get very complicated if I have a LLC in VA but file TX as my state of residence.
2. If this is too complicated to be solved with free legal advice should I visit a CPA or try and find a good tax lawyer to help set this up?
Thanks for your time.