Forums **Ask A Question** Business license for each state?

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  • #21673

    Benjamin Harris
    Post count: 33

    Do I need a business license or be registered for each state that I flip land in? What experiences have you had with that?

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  • Kevin Farrell
    Post count: 1200

    Most states require you to register as a foreign entity doing business in that state if your LLC is not organized in that state. Most of us do not do that. However, if I was to be sued in CA where I am selling land, I would not have the protection of my LLC because it is not a registered entity. My LLC does not exist in CA. The law suit would be directed at me personally and all of my personal assets would be at risk.

    My personal opinion is that when dealing with small vacant parcels the risks are not significant. Now that I am selling properties for over $20K regularly, I am rethinking this issue.

    I am not an attorney.
    My advice is worth slightly less than you paid for it.
    I may not know what I am doing.
    Talk to an attorney when necessary.

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