|
Asset Protection: Flash presentation
“Keep Your Business to Yourself”
Private Nevada Corporation Managing Limited Liability Company
If you take some time to examine the graphic below, you will see exactly how you can take your parents’ advice to heart and “Keep your business to yourself.” This example shows how to maintain privacy of ownership and privacy of control, while experiencing the benefit of partnership income-splitting for tax savings and enjoying the asset protection of a limited liability company. The LLC can operate in any jurisdiction outside of Nevada by registering as a “foreign corporation”, a relatively simple process that generally does not require much more than identifying a focal point for service of legal process in the foreign jurisdiction and paying the fees other entities pay to do business there.
This is a tremendously versatile corporate structure. It has inherent flexibility in two areas:
- The management agreement between the Limited Liability Company and the private Nevada corporation can be used to take income into Nevada, a state-tax-free jurisdiction, to any reasonable extent desirable.
- Distributions to individual members of the LLC are governed by the Operating Agreement, which is a private, internal document that can be modified from time to time with the agreement of the members, allowing for income distributions that minimize overall taxation, if that is a desirable goal.
Please call one of our seasoned, no-pressure, non-commission consultants to discuss your individual situation and learn how you can benefit from this structure no matter where you are:
(702) 870-5351
|
