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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10569
Experience:  30 years of corporate, litigation and international law
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Creating an LLC as manger managed. Listing manager on LLC filing

Customer Question

Creating an LLC as manger managed. Listing manager on LLC filing to conceal my name as true owner. As it relates to the EIN. If I registered for EIN under true owner name would this
be searchable? Any advice to keep my name off any public records? I am
Funding this start-up with 100% of my funds. Want to be hidden from public record, yet maintain control of operations. Advice?
Submitted: 6 years ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 6 years ago.

If you have member managers then the member managers get listed but you would not be listed if you were just a member. As long as you are not a manager you will not have to be listed in the annual report either.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer: replied 6 years ago.
I understand that aspect. It's specifically the EIN number that has me worried. Under new 2010 statutes they are doing away with someone registering as a nominee. I'm afraid they go to Texas Comptroller site see the manager name and possibly do a search on the EIN number. What options do I have here besides ignoring what the IRS mandates now. I need it to be airtight and keep name off all possible searchable records.
Expert:  Richard - Bizlaw replied 6 years ago.

You will not be able to be a member manager without the disclosure. Consequently, you will have to provide minority interests to whoever are to be the member managers. The disclosure of the member managers is not optional. You will not be able to manage the company day to day and not be disclosed as a member manager.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer: replied 6 years ago.
I'm just a member providing all capital. So I will be exposed if I complete the EIN under my name and my SS# XXXXX responsible party? Manager will be a different individual. Manager will be listed as secretary of LLC.
Expert:  Richard - Bizlaw replied 6 years ago.

If you do not manage you are not the responsible party. Consequently, that does not become an issue. That is what the member managers do. If you are involved in management you have to be disclosed as such. If you just invest and have management in the hands of others you do not appear in any reports. If you are involved in management you will have to be listed. The managers would be president and the other officers otherwise it is clear that they are not all the managers.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Customer: replied 6 years ago.
Relist: He isn't up on Texas law and isn't giving answer to the main question.
He isn't up on Texas law and isn't giving answer to the main question