I’m trying not to get in any deeper than I am and would appreciate any clarification on foreign corp. registrations. I don’t have any particular interest in using my Nevada S-corp but don’t want to throw it away at this time. I was told I needed to register it as a foreign corp. in my home state. It won’t be too much of a burden since my state’s foreign registration fee is only $100.
If I have an S-corp in NV. and registered agent for it, is it necessary that I register it as a foreign corp. in my home state? I do not own any real estate in my home state as an investment.
If I purchase real estate in other states and place it under its own LLC to be located in the respective state and have a registered agent in that state, do I need to register that as a foreign corp. in my home state.
If I were to have an LLC in my home state and purchased real estate in other states and place those properties under my home state LLC, do I register a foreign corp. in the other states?
Answer this question. Is your company/corporation deriving any income from activities conducted in your home state?
If the answer is no, then your company/corporation is not doing business in your home state.
It is my opinion that you do not need foreign company/corporation registration in your home state if the company/corporation is not doing any business in your home state.
However, the income that the LLC/S-corp passes through to your personal tax return will still be taxed by your home state if your home state has a personal income tax.
Ok, now I understand…I only have to register as foreign in the other states if the LLC owns property in those states. I was given wrong advice again. Now I have to work on getting a refund back on a certificate of good standing for $100 which I didn’t even ask for.
By the way, how do I go about getting one of those? Can I just call the secretary of state myself to get one.
Note to anyone on this forum…don’t use Advantage Corporation Services.
Thank you guys on this forum for helping me to undo my mistakes one at a time.
We don’t know enough yet to conclude that the company which estatlished your LLC made an error.
Your home state may still require foreign compny/corporation registration depending upon your level of personal involvement in managing the out of state properties.
If you have hired professional property managers in each location, then I would think you would be exempt from the foreign company registration requirement.
The company that estabilished your LLC may have just assumed that you would personally manage, or they may know something about your home state’s LLC law that we don’t.
Dave,
Before your most recent post, I sent off a foreign qualification questionnaire I obtained from the Secretary of State’s office. Just waiting to see what they say. I also did some more looking and found out about nexus rules…here is a site in case anyone else runs into this issue. Thanks for correcting me…I retract my statement about Adv. Corp. Services.