Can a corporation own property out of state?
Asked by: Mitch - 21 April, 2011
Can a Wyoming corp own real estate in another state?
Can a Wyoming corp own real estate in another state?
Answered by: Robert Kowalski - 21 April, 2011
Dear Mitch,
A Wyoming corporation, or any other form of business in any state for that matter, can absolutely own real estate in any of the 50 states or abroad. The only caveat to that, is that you may have to qualify your company as a foreign entity with that state. Usually the foreign entity qualification is rather simple and involves paying a comparatively small fee, but it depends on a state. For example, if you register in California, you will immediately become subject to California's outrageous $800 per year minimum franchise tax, charged to all businesses in the state.
Dear Mitch,
A Wyoming corporation, or any other form of business in any state for that matter, can absolutely own real estate in any of the 50 states or abroad. The only caveat to that, is that you may have to qualify your company as a foreign entity with that state. Usually the foreign entity qualification is rather simple and involves paying a comparatively small fee, but it depends on a state. For example, if you register in California, you will immediately become subject to California's outrageous $800 per year minimum franchise tax, charged to all businesses in the state.
