Legal Question in Business Law in New Jersey

We live in NJ and are planning on buying rental properties in Florida. Is the LLC that we obtain in NJ good for doing business in Florida or do we need a special type of interstate LLC? Also is it more beneficial to get the LLC in just one spouse's name as opposed to both spouses' names as one spouse will be collecting social security soon and we don't want it to interfere with the benefits.


Asked on 2/14/11, 3:37 pm

1 Answer from Attorneys

Barry Gartenberg Barry F. Gartenberg LLC

Thank you for your LawGuru question. You don't need a separate "interstate" LLC. In fact, there is no such thing. Under the full faith and credit and privileges and immunities clauses of the US Constitution, a state must recognize the validity of "foreign" LLCs. However, Florida may require the NJ LLC to register "to do business" in FL, which will end up in your paying 2 state annual fees, having 2 state registered agents, etc. It may make more sense to form a separate FL LLC for each property. As to the social security issue, I suggest you consult and elder law attorney. Please feel free to contact me to explore your options and protect your legal rights. 973-921-0600.

Kindly note and remember that my response is merely a general comment on the law related to your question, and NOT legal advice or opinion. Also, your question and my response does NOT create an attorney-client relationship between us. You cannot rely upon what I have written, because I do not have all of the information that I need to advise you or render an opinion. Even simple facts you have not shared can completely change my answer. For me to give you legal advice or opinion, you would need to hire me to be your lawyer, and then we would need to discuss this in detail and go over the documents.

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Answered on 2/14/11, 3:48 pm


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