LLC Address - Posted by RonNY

Real Estate Investing Real Estate Law
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Posted by RonNY on September 10, 2003 at 09:09:42:

Thanks a million for the response. That example shines a whole new light on things. I will use another address. I will talk to a CPA about the tax issue.

Thanks again William. I wish you continued success.

Ron

P.S. I look forward to buying your materials, I’ve heard alot of good things about them.

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LLC Address - Posted by RonNY

Posted by RonNY on September 10, 2003 at 06:26:45:

In forming your LLC address, is it ok to use your home address for your LLC or should another address be used?

Also, should I form both an LLC (for lease option)and S corp f(or flippng)

Third: Should the LLC be elected to be taxed as an S corp?

I’ve done alot of reading on this sight and I’ve not seen anything that answers these questions specifically to this state. (New York City)

Thanks in advance for any information.

All the best, continued success to everyone on the site,

Ron

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Re: LLC Address - Posted by William Bronchick

Posted by William Bronchick on September 10, 2003 at 08:55:29:

I’ll address the address issue… using your home address is perfectly legal, but it leads to unpleasant results. First, the minute you form your entity, the information about the company and it’s registered agent (and address) are sold to information brokers. So, expect a lot of extra junk mail.

Second, if someone wants to sue the company, they serve a summons on the registered agent. Imagine the embarassment when the sheriff shows up at your family barbeque to serve you with a summons on behalf of your LLC.

As for the choice of entity, that involves tax issues that need to be addressed with your CPA or tax advisor.