For example, DeMarco LLC (an Arizona LLC) owns a 1% interest in Company X, a California LLC. Such an arrangement will have the CA Franchise Tax board coming after you for taxes. And it doesn't even matter if you ever visited the state. Imagine never stepping foot in that blasted state and having those tax vultures coming after you, and yes, they're relentless.
Oh the beauty of a bankrupt state.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.