Series LLC For Investors in New York

If you are a real estate investor in New York, you may already be familiar with some of the benefits of Series LLCs for real estate investors. Read on to learn more about whether there is an in-state Series LLC option for New Yorkers, which Series LLC options will likely be best for the New York investor, and how Royal Legal Solutions can help you set up this critical component of your asset protection strategy.

Is There a New York Series LLC Option?

State law will provide whether a certain state has a Series LLC option. While all states have some form of Traditional LLC that you can form within its borders, the State of New York does not have a Series LLC offering. However, this does not mean that New York investors are limited only to the New York LLC. Investors in New York may still take advantage of a Series LLC. All they must do is select one formed in a different state.

Out-of-State Series LLCs for the New York Investor

Fortunately for the New York investor, there is nothing stopping you from forming a Series LLC in a state that does permit one. This entity offers separation of assets, flexibility with tax treatment, creditor protection, and more. But not all Series LLCs are created equally. You want a Series LLC that is cost-effective with strong legislation to back it up.

We have written in the past about which are the best states for forming a Limited Liability Company, and the information in that article holds true for the Series LLC as well. Of the states that do offer Series LLCs, we tend to recommend the Texas Series LLC for investors all over the country. You need not own property, nor ever even have been to Texas to take advantage of this  entity. Some benefits specific to the Texas include:

  • A low, one-time filing fee. Regardless of how many Series entities you have, your Texas Series LLC will only cost $300 to file.
  • No state income tax. Series LLCs formed in other states may be subject to franchise and other in-state taxes. This is not the case with Texas. Your only obligation is to file “no taxes due with the State’s Comptroller once annually for your business--you don’t actually pay anything in taxes.
  • Operational perks. The Texas Series LLC works effectively with the traditional bookkeeping methods you are likely already using.

For those who want a second Series LLC option, the Delaware Series LLC offers similar benefits and some others. Although the State does have an income tax, this tax is fairly low at only $300 per year and the Delaware Series LLC also confers some judicial benefits.

How Royal Legal Solutions Can Help Establish Your Series LLC and Other Asset Protection Structures

The real estate lawyers at Royal Legal Solutions can help you establish your Series LLC, no matter where you reside. Schedule your personalized asset protection consultation today so you don’t have to worry about losing your assets in a lawsuit in the future.

Last Updated: 
December 27, 2018

Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.

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