California, Limitations to LLCs?

Discussion in 'Professional Trading' started by jboydston, Apr 4, 2002.

  1. Does anyone know if there are any legal restrictions on LLC in California regarding trading? (Like, CA doesn't allow Professional Services to form LLCs.)?
  2. Disregarding the tax issue, I think you would be better served with a Nevada LLC.
  3. But if I trade from CA, am I not required to pay CA taxes anyway?
  4. Yes legally, I will leave the rest to your imagination. Nevada is a lot better to form an LLC than California. Anonymity, fees, etc. are a few reasons, ask your attorney about it.
  5. Just a note . I don't give legal advice but LLC laws can vary from state to state. LLC's based in Nevada & Delaware may have some advantages over other states. In some states, LLC's can be a member of another LLC . In Massachusetts , a one member LLC is not allowed. I would suggest you speak to a Legal advisor or CPA in your state about LLC formation. There are a couple of sites I have found that answer some basic questions on LLC formation:

    Business Filings, Inc.

    Choose a Corp., LLC or Partneship? see the article by Fleishman
    & Bryant, CPA's at

    Delaware LLC info
    LLC package available online

    LLC packages can be ordered from any state online at
    (registration with each individual state may also be required)
    Consult your legal advisor for more information.

    Gene Weissman
    Lieber & Weissman Sec., L.L.C.