Hello Mark and Mat,
I currently reside in CA, work a day job and have a side business involved in operational real estate income (flipping/wholesaling). My LLC is set up in CA (through KKOS of course) because I live here but our operations are mainly in southern states (i.e. GA, TN, etc) and we foreign register there when we start doing business.
At the end of this year, I will be moving to NY and continuing business as normal in those states. We see ourselves being in NY for maybe 2-3 years and eventually returning to CA in the future. I would typically think to just leave the entity in the original state and foreign register as needed since we will eventually return but this is of course … California.
Also NY doesn’t allow for domestication. What are your thoughts on the home state, should we leave in CA, dirty domesticate to NY even for a short time or domesticate in maybe GA or TN where we do business more even though located in NY? Also, I know taxes are paid wherever operations are but does CA have any weird rules trying to tax out of state income if the LLC was left there.
Thank you!