Securities Trading Account throuh a newly formed LLC. Can I organize the LLC in MD?

[jellymail]

What is the name of your state (only U.S. law)? NY, MD

I wanted to find out if I can form an LLC in MD and trade through it from NY without having to register DOING BUSINESS in NY. I like the protections afforded by a MD LLC and I do own a house there as well as one in NY. Truth is, however, that I spend most of my time in NY and will be doing most of my trading from NY. But if I form the LLC in MD, open a bank account in the LLC's name in MD, get a MD driver's license and open the brokerage account in the LLC'S NAME with my MD address, do I still have to state that the LLC will be DOING BUSINESS in NY? I will be filing state tax returns in NY because I have tenants in NY who pay rent and my house in NY receives a STAR TAX benefit since I list the NY residence as my primary residence.

I would normally not mind state that I am DOING BUSINESS in NY but NY wants to charge $500 a year just for having the LLC. I think that is ridiculous. I would liek to trade from an LLC to stop personal creditors from coming after my business and my research tells me MD is one of hte best places to form because of strict charging orders.

Thanks people for helping me in advance.

 

[FlyingRon]

What exactly are we talking about? What sort of business? If you're trading securities or offering it for sale, you have bigger fish to fry than just which state your LLC is formed in.

 

[jellymail]

I just want to establish a trading account for my own personal trading. IN the future I may add others to the LLC to trade their money but in the beginning I just wan tto trade personal funds....

 

[FlyingRon]

Trading other people's money requires you to be a licensed broker.
For personal business (not sure why you think you need the LLC), you're free to use a foreign (i.e., MD LLC in NY).