Single-Member Versus Multi-Member LLCs

Single-Member Versus Multi-Member LLCs

Multi member LLCs aren’t always required. It depends on the state statute. See our article on Single Member Vs. Multi Member LLCs.

In Texas, for example, a single member LLC is fine. In Florida, on the other hand, you need more than one member and they can’t be married.

What’s important here to note, is that you could file a Texas LLC and use that LLC in any state that you would like. When the court reviews whether to uphold that LLC in the other state, they’re going to look to see whether that LLC is properly formed in the state of Texas.

I recommend that you form your LLC in Texas or a similar state with strong asset protection laws so that way you’re not stuck with getting caught on a technicality.

 

 

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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