Wyoming vs Delaware vs Nevada LLCs 👉(AVOID THIS!!)👈

[@ClintCoons]

Have questions about this video? Sign up for a free consultation to get your questions answered by the professionals. Visit: aba.link/9sp

[@soopermikey2767]

Your video deserves more views . You’re a true professional. Thank you sir. I’ll be reaching out.

[@ClintCoons]

Thank you.

[@MegaAli213]

Best legal analysis on the subject matter I've ever heard, and didn't cost a dime. Thanks again for all that you do. Desert Storm Veteran.

[@ClintCoons]

Jamal Yusuf Ali Bey Thanks for watching.

[@t.k.3895]

In a prior video of yours from about two years ago, I remember The structure was to the first LLC in A state, such as Wyoming, that provides the protection of charging order & anonymity a person seeks. Then create an LLC in the state in which you actually are doing business and the first LLC you Created is actually the member of the one you created in the state are doing business. Example: the first LLC I will create is in Wyoming. The second in Illinois. With the Wyoming Llc being the member of the Illinois Llc. & the Llc being member managed. And then you talked about the member management the manager management and also taxing. I really think you did a great job in explaining stuff I just think that some people cant understand the chain and really need to consult real estate attorneys and tax accountants.

[@sancop]

T.R. Hines reslly?

[@tulayreed183]

So if you have LLC in NV manager managed and you have couple LLC in GA member manage how the NV LLC can be holding LLC without registering in GA? I'm confused.

[@tikigodsrule2317]

​@@tulayreed183 Think of the NV LLC just supplying management under contract to another company in exchange for an interest. Lawyers sue the GA company not the help (management is protected by the LLC). It helps they can't even find out who the manager is and management is in another states jurisdiction. Just my take I'm not an attorney.

[@infantryskills5039]

@@tikigodsrule2317 If I were to start a non-profit, how should it be structured so that it does not interfere with other Investments of mine? Thanks in advance.

[@ClintCoons]

The NP would be a separate corporation. I would not have any dealings with your existing entities.

[@All_Amin]

This is common in pretty much every state, you have to register as a foreign LLC, that’s why it’s better to form the LLC in the state you’re doing business, and have THAT LLC owned by a Wyoming LLC

[@ClintCoons]

Correct. The WY LLC will provide anonymity for the state LLC.

[@unicornonthecob4302]

@@ClintCoons This is exactly what I'm currently attempting to do in Oregon (register an Oregon LLC that's owned by my Wyoming LLC), yet now I'm being told I need to have an individual person's name on the Oregon LLC, which would completely defeat the purpose of me trying to use my WY LLC to own it. Is there something different about Oregon's requirements that I'm not aware of?

[@ClintCoons]

@@unicornonthecob4302 No that is an issue with Oregon. I typically use a land trust or Wyoming statutory trust to obtain anonymity in Oregon.

[@Michael9272ju]

@@ClintCoons Why couldn't the NV LLC do the same in the video example for IL?

[@ClintCoons]

@@Michael9272ju The NV LLC must register to collect the rent and bring claims.

[@PeaceChanel]

Peace… Shalom… Salam... Namaste and Thank You for All that you are doing to Heal our Mother Earth 🙏🏻 😊 🌈 ✌ 🌷 ☮️❤️

[@illuminated2438]

Clint is the best.

[@passivesolar6194]

As usual, outstanding job!

[@JustAVariation]

"3 Letter Company In Las Vegas" 😂 I worked for that 3 letter company and Anderson. Yea Anderson knew more than that 3 letter company. Lol

[@shanalucille329]

Great work Clint! Appreciate you man (and the rock solo, and your style of communication). I've watched 6 videos this morning already and am learning SO much. Thank you for spending your time on these videos to help others. PS- I went to book a 45-minute discovery call and the link didn't work. Would love to do business with you and set up a temp LLC for a Mixed Use Development deal in CA if that is in your area of expertise.

[@ClintCoons]

Try this link for a consultation: - aba.link/30minSession

[@helprehouseourvets6919]

Another *great* informative & mind blowing video Atty Coons! Thanks!

[@ClintCoons]

Glad you enjoyed it!

[@lucrtrvl]

Like then watch. Always on subject, always well structured info.

[@CSSZiegler]

It all depends on how you structure the LLC

[@marilynreno7510]

3 years later and no explanation

[@unicornonthecob4302]

@@marilynreno7510 He didn't even ask a question, what on earth do you want an explanation of???

[@stacyb1341]

Why would a response be needed? What exactly would be the point of reinventing the wheel? You'd rather hire a lawyer for $100s/hr to bulletproof structures and operating agreements instead of just paying filing fees on a double LLC? Why?

[@whymindsetmatters]

Never spoke about Wy or De

Are there any of these videos that break down all the cost for your services, including setting up the Wyoming LLC, the yearly fees, etc... a total overview of costs?

[@ddillard143]

@@maribelmorrison2063 yeah those companies that charge you fifty bucks to create an LLC a no good. Like he just said in the video they most likely don't even have a full-time attorney at that place. You need a properly structured operating agreement to Ironclad a LLC for asset protection

[@ClintCoons]

Nothing online but you can schedule a FREE strategy session and we can quote you based on what you need. Asset protection is not a one-size-fits all strategy thus we do not put up prices for our services.

[@eljuancho2]

Fantastic content! my God you are good sir!

[@buffalomotel2527]

You can still have the LLC's that own the property in NV and just have domestic LLC that is a "Property Management Company" manage them in the state they are in. "Property Management Company" can evict everyone since they hold the leases. Also, "Property Management Company" owns no real estate! Just manages the properties, therefore risk is passed onto the "Property Management Company" but your assets are still protected since the NV LLC owns them. Lets say "Property Management Company" gets sued and charging order is filed on "Property Management Company", dissolve it and start a new "Property Management Company"!!

[@brianramrup5527]

Can you help me understand this a bit more in regards to how to pass the title on, structure it as a property management company and how it can handle the transactions without owning anything? This is first im seeing of this idea and it’s great.

[@andrewg4us2010]

I’m still hoping you discuss how to do an llc, land trust, and living revocable trust content!? Someone like me wants to be able To buy property but limited in doing it in my name only. So a land trust seems appealing but obviously doesn’t have limited liability and charging order protection. But I want to ensure any kind of business I build up has estate protection as well, so utilizing my living trust would be helpful. But unaware of pitfalls How exactly to set up.

[@ClintCoons]

If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

[@michaelhardyjr5230]

What structure would one use to wholesale real estate in different states if one lives in another state that provides great protection and other great benefits? Land trust or LLC?

[@ClintCoons]

I like to use a WY LLC or a wholesale trust.

[@waynecmontgomery]

Hey, Clint great video, I have 2 questions (1) Is an AKA's acceptable when setting up a corporation and is a non-profit a good structure to use in asset planning?

[@ClintCoons]

Yes you can use a DBA for a corporation. This is quite common when running multiple businesses with one entity. Also a non-profit can be an important tool in estate planning. My partner Toby Mathis teaches an exceptional course in our Las Vegas office every 5 months on using non-profits.

[@just-simplymarvelous]

@@ClintCoons Toby Mathis is my guy-guy.

[@BenevolentDictator13]

Can the holding company that owns a foreign llc be put into a irrevocable trust?

[@idontwantachannelimjustcom7745]

What about if your property is owned by a local llc in your name and a non proforma paid trust? Then your property has a mortgage on it with your wy-de-NV llc as the lein holder with interest only on the mortgage with a fixed term, but the option to extend the interest only period if mutually agreed to by both llc. If tagged by a lawsuit you end the interest only period, pay the trust, and still have income/capital return through the wy-de-NV llc

[@zacha157]

Clint, as usual good video content. As you hinted, couldn't you acquire the IL property in a LT and have the beneficial interest held by your WY LLC. Wouldn't that provide both anonymity and asset protection? Couldn't any IL legal action like eviction or foreclosure by done in the name of the LT? Wouldn't this avoid the need/cost to setup and maintain an IL LLC?

[@ClintCoons]

Yes and that is typically what we do but Illinois has reduced their LLC fee to keep more of the business in state so you have more options now for your planning.

[@micomarinas2753]

can an investor put also their bank account, corporate/govt.bond, gold in private vault, profit in stocks,forex and cryptocurrency under a llc? is this possible/applicable?

[@avayu2289]

People, you need to be compliant where you do business! Simplify NOT complicated.

[@svg001]

I agree; why bother establishing TWO LLCs and pay/file taxes and fees twice--except for maintaining privacy, or pass-through problems??

[@MushroomNinja]

Hey Clint, after looking at every one of your videos and reading every blog at Anderson, I have one question. What does forming a Nevada llc have over forming a Wyoming llc beyond the fact that Nevada has a business court that's much older than Wyoming's recent formation of their biz court in Jan? Does Nevada & WY both have the same strength of anonymity? Does one have more emphasis on asset protection than the other?

[@ClintCoons]

Wow you must not be sleeping much - that is a lot of content to filter through. I prefer Wyoming because you do not use a nominee to obtain anonymity and this makes it a ton easier to set up your bank account.

[@stacyb1341]

What about Delaware?

[@TheTlunn]

What if the property is located in another country ie Canada and is owned by a Wyoming LLC?

[@LMays-cu2hp]

Thank you.

[@Dope4life97]

Glad I watched this video because this is what I’m afraid of. I’d like to own a Wyoming LLC with anonymity with multiple members, & then a separate LLC in Massachusetts OWNED by the Wyoming LLC, for an operating business. Would this qualify as a foreign entity doing business in the state simply to the fact a foreign LLC owns a in-state LLC. & next question is does this still apply if I were to open another LLC in Massachusetts for rental properties that I would potentially run another LLC out of. A lot going on here. So basically my concern is besides the 2 do I still need to have a 3rd fee for foreign registration

[@ClintCoons]

The WY entity will not have to file if all it does is own the MA LLC.

[@Dope4life97]

@@ClintCoons I appreciate the reply, merry Christmas happy new year

[@sancop]

So, I get confused by the “holding company” concept. We have put everything off trying to figure everything out. If RE in Florida, misc small business in Florida (possibilities of future in other states), would we LLC in WY to own the other LLCs for ANON and COP? Or just the holding company? Or both?

[@ClintCoons]

Sandra please consider contacting us to set up a Free strategy session so we can answer your questions in more detail but yes I would set up a WY LLC to hold all of my state specific LLCs for anonymity. On the active business side of things you may not want anonymity. This is why your questions is more complex than can be answered via this page.

[@dagame4035]

How about holding the property in the Nevada LLC and forming a management llc in the state to manage the property ?

[@ClintCoons]

I wouldn't risk it because the LLC is conducting business in the state through the management entity thus, I would assert it must be registered int he state where the rental is located.

[@brianramrup5527]

@@ClintCoons but if the management llc is doing business in the local state/same state as the property; isn’t that who would be liable? Or is the Nevada llc still liable since it is the owner of the property that business is being is done on? This concept of a management company is a bit blurry, I would love a video delving into that if you need topics! Beers on me if you can :)

[@ClintCoons]

@@brianramrup5527 Ultimaley the owner of the property is liable but this would also depend on the nature of the claim. Have you seen this video? kzbin.info/www/bejne/mJmng5Zompt7kJI

[@Life_Is_Hilarious]

What about starting an LLC in New Mexico?

[@ClintCoons]

Sure but what is the purpose? Anonymity? The only drawback for NM is the charging order is not the exclusive entity.

[@PreparelikeJoseph]

I need something to get me off 33% self employment tax. I pay a 3rd of my little business income every year.

[@ClintCoons]

S-Corporation. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

[@elid9508]

I disagree the long arm statue allows you to prosecute in your state and the unlawful detainer could of been prosecuted by state statue your office is alright but need better understand law arm statute

[@ClintCoons]

Usually an attorney will draft them or Pace may include them in his training materials.

[@goosecouple]

Clint, after we have created the WY LLC to own the IL LLC, do we have to also register the WY LLC as foreign entity in IL?

[@illuminated2438]

goosecouple Just as with my other post, I can't answer for Clint, but no, you don't.

[@ClintCoons]

Absolutely not. If you do then you lose the benefits of WY

[@ChastityRN]

Great question. I'm new to this and have already created and own a WY LLC and have created an LLC in the state I live and in the process of purchasing a rental property. The purchase of the home isn't finalized yet but lender tells me not to use the LLC to purchase the place due to higher interest rate but to transfer it after closing. This will be my first investment property and want to do it right the first time.

[@goosecouple]

@@ChastityRN Sounds good for the benefit in the interest rate. But if you close with your own name, I think you will lose anonymity. Because by doing so, your name will go on public records, published in local newspapers, nowadays online.

[@ClintCoons]

@@ChastityRN That is exactly how it is done. The mortgage you are applying for is a residential mortgage thus you can not close in an LLC (this is not always the case especially if you are working with a community lender and the loan will be a portfolio product) because that would make the loan a commercial mortgage.

[@breakage959]

you sir are a genius

[@ClintCoons]

Hah!

[@aurelius7435]

Instead of having an in-state (in this example, Illinois) LLC hold title, would the problem be solved by having an in-state *management* LLC conduct business with the tenants and bring suit against the non-paying tenants?

[@ClintCoons]

Pursuant to the Illinois Business Corporation Act of 1983, the Owning, without more, real or personal property is not conducting business. If you have a rental in IL it is conducting business when it rents out the property through its agent (the Property Management Entity). Understand you could probably evict the tenants provided they do not have an attorney who looks up your registration.

[@aurelius7435]

@@ClintCoons Thanks for the explanation!

[@kjuarez3654]

If you put the Ill property in an LLC, why is it better to go into a Wyoming LLC, and not the Nevada LLC?

[@ClintCoons]

Nevada is very difficult for anonymity and opening a bank account because you are forced to use a nominee manager in Nevada. Wyoming does not list any manager or member information.

[@oluwoleoluborode2681]

Can you have the WY LLC (that owns the IL LLC) lease the properties to a C-Corp, then the C-Corp sublease to the tenants, to keep the tenants out of reach of the LLC?

[@ClintCoons]

Yes to the strategy of the IL leasing to a Corp but a tenant might be able to reach the LLC in a lawsuit. See this video: kzbin.info/www/bejne/mJmng5Zompt7kJI

[@liaoweien]

Thanks a lot for the awesome content. One quick question. I saw someone use one Wyoming LLC elected as S corp for the holding company, then it has 2 operating companies (1 generates ordinary income, 1 is trading company that generates passive income ). By shifting the profit from ordinary income -> holding company -> trading company, we can defer the tax and 1 year later, the long term gain can be passed back to the owner of the holding company. Does that make sense or it is a scam? Thanks a ton. :)

[@ClintCoons]

Not that I know of.

[@letmegetsome5970]

So basically all I have to do is own a LLC in either NV DE or WY that owns the LLC in the state I'm doing business?

[@ClintCoons]

That is the general idea.

[@letmegetsome5970]

Real Estate Asset Protection Thank you very much for your service

[@unicornonthecob4302]

Hi! Thank you in advance for answering my question. I'm wondering if I can own an LLC in Wyoming, and have that LLC own an LLC in Oregon, if they both have the same name? I'm trying to keep my name off of the Oregon State's registry for privacy purposes.

[@ClintCoons]

That would not work because WY will require you to list the "responsible person" for the LLC. The best structure for OR to have anonymity is to use a land trust or Wyoming statutory trust.

[@freeman436]

Yes, but don't you lose your anonymity in Wyoming after one year? On the date of your first annual filing? Thanks.

[@ClintCoons]

Not at all. Wy does not collect information.

[@SoIThinkImAGamer]

So if I have a Wyoming holding llc where I chose to remain private and use my Wyoming llc to open an Florida llc and register the Wyoming llc as my Florida llcs agent I wouldn’t maintain my privacy?

[@ClintCoons]

You do not register the WY LLC in Florida and you will keep your privacy.

[@SoIThinkImAGamer]

@@ClintCoons awesome that’s good to know

[@devanhcrow]

curious on this... if you have a business that operates in FL, would setting up the structure of a FL LLC, member owned by a Delaware LLC which in turn is member owned by a WY LLC provide the asset protection of WY and provide the corporate case law benefits of Delaware?

[@ClintCoons]

I would just stick with the DE holding LLC. I do not see any additional benefit with the layering of a WY LLC.

[@MattyBoy1417]

Forgive me if my questions have obvious answers, I’m new to real estate investments and just want to be clear on the llc part so I don’t make a mistake. I live in California and plan on buying property in Texas and was going to get the Delaware llc for the tax breaks and how easily they say it is to set up there. Are you saying my best bet would be to set up my llc in Texas? Thanks in advance for any info you can provide me with

[@ClintCoons]

Probably a TX series LLC owned by a WY Statutory trust or separate statutory trusts owned by a WY LLC. Have you viewed this video: kzbin.info/www/bejne/pnqlnJukptdrpMU ?

[@downhomegirl5]

Why not create a Illinois LLC owned by the Nevada LLC? Isn't that the same thing

[@ClintCoons]

Yes you can but in order to have anonymity with your NV LLC you must use a nominee manager. A nominee manager makes it difficult to open bank accounts.

[@octaviasingleton6600]

Does a holding company only work if it is established FIRST, before establishing any other llc's that intend to go into it?.....or am i able to establish all of my llcs first and later establish the wyoming holding company...how would i pass ownership to the holding compamy of ita establisbed last?

[@ClintCoons]

You can do it in reverse but the anonymity is not as strong.

[@toneystackz355]

Does this same situation apply with a rental car company ? Holding rental cars owned under the NV LLC but renting out of a different state ?

[@ClintCoons]

You would need to look at the licensing/registration issues. Best to set up a WY LLC that holds the state specific LLCs where the cars are registered.

[@mxwashington]

So then, it would make sense to have an LLC in the state you want to do business, then the holding company be a wyoming LLC?

[@ClintCoons]

Yes that is how you do it

[@chanex5324]

When setting up your WY LLC name... can the other state LLC entities that you will do business with be the same name or should they all be different? How does that apply to virtual wholesaling, for example, outside of notes (servicing notes has its own restrictions), flips, holds, certs/deed/liens, etc.? Many lenders don't like "capital" "holdings" esp in RE as to increased risk (please correct me if I'm wrong) when lending but does that necessarily matter. Lastly, for the WY LLC, as the parent to the gazillion, can you ever "do" business from that WY account(s) or does it STRICTLY have to be the "holding" (like escrow) company (for like salary pay, etc.)?

[@ClintCoons]

They will need to be different. You can not have 2 entities with the same name conducing business in a state. You might get around it with a DBA but then if someone sues they will most likely name each entity with the same name.

[@bigb9673]

Does this apply to owning rental property outside of the US for example Mexico?

[@ClintCoons]

Typically in Mexico the property will be held in a trust and the trust is held by a domestic LLC.

[@superman2004ful]

It does not work in real estate apparently, but in other businesses it does right? I can get Wyoming LLC as Member managed for Texas LLC?

[@ClintCoons]

Correct. We routinely set up our TX clients with a WY LLC for anonymity.

[@sealseba8762]

How do you prove you are the owner of the property if the receipt from Wyoming doesn't have your name on official docs?

[@ClintCoons]

Your operating agreement and EIN letter.

[@nylronetynarf6952]

Can you have a Wyoming LLC and own property as a primary residence in another state since you're not conducting business?

[@ClintCoons]

The best answer is no for your primary. Best to use a personal residence trust.

[@IRAKLICHIKHLADZE]

What is the best strategy for over the road transportation company/owner operator?

[@ClintCoons]

Probably an LLC treated as an S-Corp. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

[@scosal7100]

How about an online business Clint? I sell on EBay from New Jersey but I want to register the business in WY. Can I do it legally?

[@ClintCoons]

Yes you can.

[@cesaralvarez8843]

How does an unlawful detainer work?

[@ClintCoons]

It is a court procedure used to remove a tenant from your rental. It requires a court to give you an order that you can provide to the sheriff to have the tenant removed from your property.

[@Doitallgp]

I imagine a local property manager could file that lawful detainer. Thoughts?

[@ClintCoons]

You would need an attorney to bring the action but yes the local would start it.

[@goosecouple]

After we have created the IL LLC, I don't see why we should bother to create the WY LLC. Isn't a solid Operating Agreement for the IL LLC sufficiently strong to ward off the creditors?

[@illuminated2438]

goosecouple I'm not a lawyer and I can't answer for Clint, but the difference is in state laws regarding outside liability, specifically that a personal creditor against the Wyoming LLC is limited to a charging order. And, of course, your operating agreement can't provide the anonymity benefit that could be obtained via Wyoming LLC.

[@goosecouple]

@@illuminated2438 Got it. So the issue is about anonymity. In the video, in the first case, the members of a NV LLC lose anonymity when the LLC becomes a foreign entity in IL. In the 2nd case, when WY LLC owns the IL LLC, the members would have to also lose anonymity in the IL LLC, right?

[@tikigodsrule2317]

@@goosecouple No. The IL LLC shows the WY LLC as the owner. They lookup the WY LLC for the owner information and only find a nominee = there is no information about you. But nothings perfect. The lawyer will try to pierce the corporate veil to prove the LLC is not really a business. They may get a court order to get WY LLC to disclose more if a serious crime is involved. The point is to make it hard, nearly impossible every step they take to sue you and win.

[@ClintCoons]

Jett you have nailed it. Excellent response.

[@ClintCoons]

Yes and no. In the first case you lose anonymity but the second case you keep it.

[@122195brandon]

I just registered my Delaware LLC with the state of New Jersey and then I watched this video. So I guess I should dissolve the LLC and start over so I can be Anonymous again.

[@ClintCoons]

Depends on your business and how much effort you have put in to setting up your LLC e.g., bank accounts, insurance etc.

[@122195brandon]

@@ClintCoons Real Estate Holding Company. I applied for my business bank accounts and the bank said I would have to be a registered business in New Jersey even though I was registered in Delaware. So I went in registered with NJ. But I haven’t reached out to the bank yet.

[@ClintCoons]

@@122195brandon How are you planning to use the LLC? Flipping, rental house, trucking business, etc?

[@122195brandon]

@@ClintCoons I am planning to use it for rental properties. Multi family/single family properties.

[@ClintCoons]

I think you should consider setting up a strategy session with my firm to discuss your options. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession@@122195brandon

[@user-wk2ch9sz5x]

Cant the NV LLC or WY LLC be the Trustee for a property owned in Florida? me the managing member and me also the benefiiary?

[@ClintCoons]

Yes you can. I have a video on selecting a trustee for your land trust.

[@towhomitmayconcern8866]

I want to setup an LLC in NV that acquires and develops rural land for lease to farmers in CA. Would I need to have my NV LLC be the owner of the CA LLC?

[@ClintCoons]

That is one way to set it up.

[@hatersgotohell627]

What do you mean if you use a nominee it offers privacy? What on Inc file do I put if I want privacy for my Wyoming llc?

[@ClintCoons]

You must use a nominee officer and director to set up a corporation with anonymity.

[@jiorphia]

Does this only apply for real estate or all types of businesses? Also, is there any instance where you'd recommend a NV, WY, or Deleware C Corp be the single member of the LLC in your home state?

[@ClintCoons]

It depends on the business you are running. If your are flipping properties it makes sense to have the single member of the LLCs a corporation. This type of decision would be based on the tax implications of the income you are receiving.

[@kimbelarenee401]

Hi. What about in the case of real estate notes with a Wyoming LLC?

[@ClintCoons]

Yes that is a great way to protect them.

[@armanitate1589]

Hey Clint, thanks for the information. However, I do have a couple questions. Why can't you just create an Illinois LLC that's owed by a NV LLC and still have anonymity? Essentially, isn't that what you basically just explain with the Wyoming LLC? If not, then do you mind explaining the difference?

[@ClintCoons]

You can but to obtain anonymity with a NV LLC you must use a nominee manager on the state filing and this creates problems for opening a bank account. Wyoming does not collect manager or member information so nothing is listed on the secretary of states website.

[@armanitate1589]

@@ClintCoons Oh okay, I do have three more questions. Hopefully, you are willing to answer. 1.) So in other words, you could just create the LLC in Wyoming yourself with out having to hire a “registered agent” to hide your identity? 2.) If someone wanted anonymity and charging order protection in another state, excluding Wyoming, Nevada, or Delaware, couldn’t they just hire a registered agent to open and file all the continuous paperwork and still receive these benefits? I’m in Michigan and I tried researching this, but I couldn’t find a clear answer. 3.) From my understanding, Michigan only requires the information of the LLC’s “organizer”, and not any of its members/managers. So, if this is the case, then why couldn’t someone just hire a registered agent to open a LLC in their state if it has asset protection and only requires the “organizer’s” information?

[@ClintCoons]

@@armanitate1589 If you want the protection you need to hire a firm or organization to create the entity for you. If you go about it on your own you will not be able to achieve anonymity. A resident agent is required so is the organizer.

[@hatersgotohell627]

@@ClintCoons hey so what is the difference between an organizer and registered agent? If I get inc file to be registered agent aren't they also the organizer and therefore the wyoming llc will be anonymous

[@ClintCoons]

@@hatersgotohell627 The organizer is the person who prepares the articles for submission to the state. The registered agent is the organization's in-state representative. Depending on who you use to set up your entity, they could be one in the same.

[@donpowell4025]

How about having a local 'holding' LLC which is the child of the Nevada LLC?

[@ClintCoons]

Not sure what the benefit would be.

[@donpowell4025]

@@ClintCoons Asset 'A' let us say a Rental is in 'ABC Holding LLC' registered in the state of operation. Your Wyoming LLC would be the owner/manager of said LLC. To sue you they have to sue the Wyoming LLC which does not disclose the owner...

[@ClintCoons]

@@donpowell4025 No the complaint would be filed against the property owning LLC.

[@donpowell4025]

@@ClintCoons Correct but because you add the layer removing you from it directly (meaning you are not the owner/manager of the property-owning LLC) then it is pretty much impossible for 'them' to come after your other assets... If I am wrong here I am always willing to learn but this is what I understand from my research. It might just be redundant who knows...

[@ClintCoons]

@@donpowell4025 Don the WY holding LLC does not own property. The WY holding LLC owns the property holding LLCs and it provides the exact benefits you raised.

[@caseymoss459]

So im curious, lets say I have a trust in WY, and i have the most privacy i can get, if someone tries suing me personally, will they be able to know that the trust exists? i know this isnt the right video, i just couldnt find the one i was looking for.

[@ClintCoons]

Not unless you disclose the information. This also assumes you set up the trust with anonymity.

[@Koraeffect]

Can you discuss DAO?

[@ClintCoons]

Are you asking if I can cut a video on purchasing real estate with Crypto?

[@hatersgotohell627]

So is it safe though to have that WY holding llc file as scorp if it's out of your state and non registered as foreign llc? I want a WY holding llc that will be scorp but I'm out of state.

[@ClintCoons]

Depends on the type of activity you are operating through the LLC. If you are conducting business activity through your WY LLC in CA then your LLC will need to foreign file.

[@patrickcarter2]

Hey Clint I've heard a lot about New Mexico. How do they fit into the comparison? Heard Wyoming is hard because the resitered agents will charge u crazy due to providing the privacy of who owns the LLC.

[@ClintCoons]

New Mexico does offer privacy and it is cheap but when is cheap better? New Mexico does not have charging order protections for the members of an LLC thus, if a judgement is entered against you, your New Mexico LLC could be at risk.

[@DL-1]

If I want to own a corporation that owns companies in Texas and maintains anonymity, what business structure do I use?

[@ClintCoons]

Set up a WY LLC to own the Texas entity but they must be filed in the order listed and set up as member managed.

[@DL-1]

@@ClintCoons thank you, but I also need the taxes of the entities to be filed separately from me. Business and personal files separately with anonymity. How do I do that? Thank you for your reply.

[@ClintCoons]

You cant get anonymity with taxes but many of the LLCs we set up are disregarded entities meaning they do not have to file a tax return. The use of a disregarded entity keeps you returns cleaner and makes it easier to work with underwriters.

[@ankitashah3194]

@@ClintCoons Hi Clint, is it an absolute must to have a physical office building/or business operations in WY to form a holdin LLC in WY? (wanting to place a TX llc (holding real estate), into a WY LLC for anonymity protection). Thank you

[@carolinaparedes5970]

I can form a holding company in Wyoming if I do not have a residence there and form LLC in Florida to protect my assets, my rental properties?

[@ClintCoons]

Yes you can but you might consider using FL land trusts as an alternative to setting up FL LLCs. Set up a WY LLC as the beneficiary (holding company) a second LLC to be the trustee of the land trusts, and a single land trust for each property.

[@carolinaparedes5970]

@@ClintCoons thanks a lot!!! These proprieties are paid in full. Do you think I need a land trusts ?

[@ClintCoons]

@@carolinaparedes5970 I would use the land trusts in place of separate LLCs. Florida gives land trust beneficiaries asset protection from inside claims. This is similar to LLCs. The benefit is you do not have to pay state filing fees with a land trust. Thus, in a situation like yours, I prefer to use Florida land trusts for Florida property because it provides asset protection without additional annual costs.

[@carolinaparedes5970]

@@ClintCoons great! I already contact your office to schedule an appointment. Do you have assistant in Spanish? I'f not I’ll try my best. Thanks for your help!

[@lynnpiecuch]

I am having trouble finding a bank who will open a business account for my Wyoming LLC. I am in Florida and I have a SMLLC in Florida whose member is the SMLLC in Wyoming. Because I don't have a lease or utility bill for the Wyoming LLC, the bank says they won't open a bank account for it. Have you run into this?

[@ClintCoons]

Yes. When we set up LLCs in Wyoming for our clients we provide a lease agreement that the client can use to open the account (we provide the entity an office share arrangement). You might consider just providing a local address when opening the account and do not try to open the account with a Wyoming address.

[@lynnpiecuch]

@@ClintCoons Thank you!

[@nicholaskibe5260]

@@lynnpiecuch Hello Lynn. I also live in Florida and wasn't able to open a business account at Wells Fargo. I asked a similar question on another video and they referred me to your post. Were you able to open account using a local address and if so could explain to me how you did it?

[@lynnpiecuch]

@@nicholaskibe5260 It was a no-go for me. The folks at Real Estate Asset Protection replied to me above and it looks like if you use them or a company like them, they can help by providing a Wyoming lease agreement. Their response was, "When we set up LLCs in Wyoming for our clients we provide a lease agreement that the client can use to open the account (we provide the entity an office share arrangement)."

[@nicholaskibe5260]

@@lynnpiecuch okay thank you Lynn. I was denied by Wells Fargo because they said they couldn't verify that i was the owner of the Wyoming LLC even though I provided all the paperwork sent to me by the company i used as well as the Wyoming Secretory of State and an EIN number. The pandemic hit, but now I want to look for other banks. I'll let you know if I have any luck

[@loyaldeterminedcom8234]

Do You Have A PayPal We Can Donate To?

[@ALLsports719]

What if u don't have an wyoming address??

[@ALLsports719]

Do i need a po box to put in the address box

[@ClintCoons]

We provide an address when setting up WY entities.

[@revl595]

IL is an awful state

[@blainedecker]

Would this principle work for any other business?

[@ClintCoons]

Yes

[@studentcrna8459]

I have rental property in Arizona but want to register in Wyoming. Still the same issue?

[@ClintCoons]

So long as the entity is registered in AZ you should have no problem

[@keithleeuwen877]

What ? Some Things are really a Load of Bollocks !