For a real estate investment LLC, do I need to have a business license as well?
November 16, 2009 : Posted by: admin : Category: asset protection : Add CommentI am forming a Nevada LLC to hold my real estate, for asset protection purpose. Do I need to have a business license as well? I understand that if it is an active business, I would need to have one. However, this is a passive entitiy, holding my properties for asset protection only. Just not sure if I really need to go register and get a business license and spend the $200 fee.
No, you don’t need a business license. You (as a person) can be the sole member of the LLC.
Nonetheless, I would speak with an attorney and accountant about the best way to structure such an entity, in order to maximize your protection against liability and minimize your tax burden.
November 16th, 2009 at 12:53 pm
you need the license. there is no passive entity it is alive or not
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November 16th, 2009 at 1:12 pm
No, you don’t need a business license. You (as a person) can be the sole member of the LLC.
Nonetheless, I would speak with an attorney and accountant about the best way to structure such an entity, in order to maximize your protection against liability and minimize your tax burden.
References :
November 16th, 2009 at 1:58 pm
Wow. Two diamettrically opposed views. Guess I’ll have to sort this one out myself.
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