I have a LLC in Nevada and used primarily for acquiring rental property can I use the same LLC to buy property and rent in Flordia or do I have to create a LLC in Florida too – pls advise – thanks
Dear Gary,
In principle, you could use your NV LLC to hold a rental property in Florida. To do so you would need to foreign qualify your NV LLC in Florida, a process that would be more expensive than just forming a new FL LLC, but would make it a bit easier to manage taxes.
It is generally advised to have each rental property organized under its own LLC is the state where this property is located in. So I would say in your case its probably best to form a new FL LLC.
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