One of the great places to start an LLC is Florida. Florida just recently made it very clear that your assets can be protected by multi-member LLC's (Limited Liability Companies). This offers greater protection to you versus having a single member LLC. A single member LLC is simply an individual hiding behind a business name. Doesn't sound very safe. Having two members of an LLC at least makes it sound to your creditor that it is a little more difficult to reach you. Howe about, if those creditors didn't even know who owns the Florida LLC?
For a privacy stand point, Florida isn't very private. Florida wants you to make public members of an LLC.
You can see this by clicking the link to sunbiz.org for forming Florida LLC's https://efile.sunbiz.org/llc_file.html
The work around in hiding Members in a Florida LLC is by making the Manager or MGR one or two LLC's from a Private State such as Delaware ($250 a year) or New Mexico ($50 one time).
When someone looks up your now hidden ownership of your LLC it would look like this on the Florida Secretary of State website:
Authorized Person(s) DetailName & Address
Title MGR
Hidden Owner of an LLC 1
Title MGR
Anonymous Owner of an LLC
For a privacy stand point, Florida isn't very private. Florida wants you to make public members of an LLC.
You can see this by clicking the link to sunbiz.org for forming Florida LLC's https://efile.sunbiz.org/llc_file.html
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The work around in hiding Members in a Florida LLC is by making the Manager or MGR one or two LLC's from a Private State such as Delaware ($250 a year) or New Mexico ($50 one time).
When someone looks up your now hidden ownership of your LLC it would look like this on the Florida Secretary of State website:
Authorized Person(s) DetailName & Address
Title MGR
Hidden Owner of an LLC 1
125 Hide LLC Ownership dr.
Some Place, DE 00000
Title MGR
Anonymous Owner of an LLC
125 Anonymous Owner of an LLC Avenue
Some Place, NM 00000
Some Place, NM 00000
And the paper trail stops there!
As a multi member LLC you will have to file a separate multi member LLC tax return such as through turbo tax. Their business software is $149.99. Make sure your two LLC's have a separate Tax ID. When you input the two LLC's the software will give you an option to declare those LLC's as fall through LLC's and therefore the K1's that generate at the end for your tax return, have the LLC names and their tax ID's. You then simply use those K1's on your tax return without using the business names and you are hidden.
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