Posted by Pam on December 16, 2004 at 10:05:50:
Thanks for the follow up , Clint.
Inc. and renting out property in different states - Posted by Pam
Posted by Pam on December 12, 2004 at 21:09:35:
Hello,
Is it beneficial to incorporate in one state (NV) when I’ll primarily be buying and renting out property in another state (NC)?
property in different states - Posted by Clint
Posted by Clint on December 15, 2004 at 06:42:34:
Pam,
No. I have had a Nevada Corp. However NC probably has a law that says that if income earned in the State of NC is above 50% then you still have to pay state taxes. That was the way it was in TN. If you want tax shelter, use 1031 exchanges for capital gains. I am not an attorney or tax advisor, nor do I play one on TV, just my .02. In other words, don’t try to skirt the system, get a local attorney who KNOWS and go from there, and get a CPA as well. They will be worth your $$ spent.
Clint