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When to Foreign File?

Asked by: Eric - 8 September, 2012
Do I need to foreign file in South Dakota if I have a Utah LLC but I live in South Dakota? I'm setting up entities in different states for different purposes but I'm being told that eventually I'm going to have to set up an entity in my state or foreign file back to my state.
Answered by: Robert Kowalski - 10 September, 2012
Eric,

That would depend on the nature of your business, and the level of your personal involvement with the management of each business.

Technically, if you manage your companies from your home its important to be registered in your home state. However, you don't necessarily need to foreign qualify each of your companies in South Dakota - you could alternatively form a holding company in South Dakota that would in turn own all your other companies.

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