What is the best state to file a LLC in? The LLC is set up for 5 guys investing in an investment property.?

Answer 1

You'd be wise for form the LLC in the State of your Residence if it is the state where the investment property is located. If you need to respond to any legal action, you might otherwise end up having to go to court in the state of formation. If your business activities are in another state however, you should get some good advice from a CPA and a Laywer.

If your business activities are in another state or your LLC is sited in another state, you'll end up having to file taxes in that state for the business activity.... and could end up with higher tax bills.