QUESTION

texas llc in california

Asked on Apr 28th, 2015 on Corporate Law - California
More details to this question:
Is there any advantage of opening an llc in texas over california. I have a small business and mostly want to protect my assets.
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2 ANSWERS

Real Estate Attorney serving Oakland, CA at Sack Rosendin LLP
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I am not familiar with the Texas limited liability company law. I have not heard of any advantages of the Texas version over the California version. The states are pretty competitive about making themselves attractive, hoping to attract the businesses or at least the filing fees and annual renewal fees. The more important question is where are you doing business? If you organize the llc in one state under its llc law, but are doing business in any other state or states, you will be required to register the llc in those other states as a foreign llc doing business in those additional states. If you are not doing business in both Texas and California, why pay fees in both states? If you appreciate this free advice, please remember to refer me to any friends or acquaintances who need a lawyer. Referrals are still our best source of new business. Do you have a revocable living trust to protect your heirs against probate? Probate takes forever, is expensive, and is annoying. Do your family a favor. Set up a trust, and put all your property, especially any real property, into the trust. Since it is revocable, you can change it, add to it, take property out of it, or even cancel it completely, at any time. We set up such trusts, provide a pour-over will as a back-up for any property that does not make it into the trust, provide you with blank durable powers of attorney for health care and financial decisions, in case you become incapable of making such decisions while still alive, and convey one piece of real property to the trust, usually the family home, for $1500.00. If you would like to hire me to do this, let me know, and I'll send you a list of the information I need. Dana Sack
Answered on Apr 28th, 2015 at 2:53 PM

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Business Transactions Attorney serving Los Angeles, CA at Doland & Fraade
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If you live in California and you have a company bank account in California then you would have to register your Texasa LLC as a "foreign" LLC in California, pay California Franchise Tax and fees and not have any savings. 
Answered on Apr 28th, 2015 at 12:19 PM

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