Hello,
I have a few questions for those who know the laws of CA and AZ. I have a rental property in CA and a rental property in AZ. Currently, I am in the process of figuring out how to lower my real estate liability exposure. The answer that I found is to form a LLC.
I figured that having two separate LLCs would be ideal, one for each state. After doing some research I found out that CA charges an $800 per year LLC administration fee. My first question is, does the state of Arizona charge similar annual fee? Second, am I better off setting up a AZ or NV LLC for my CA property or should I pay the $800 per year fee.
If I had more than one property I would prefer to set up CA LLC, but at this stage it doesn’t seem very economical to do so.
Thanks in advance for your responses.