How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 111548
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
10285032
Type Your Legal Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

Second opinion] - My partner and I run an Internet business

Customer Question

Second opinion] - My biz partner and I run an Internet business and we now need to set up LLC.We have several ventures that we may soon wish to branch into separate liability entities which may each incorporate a couple of other partners.The business operates completely online in the affiliate marketing field (ad placement), with no physical presence anywhere.We both are California residents, but one of us is moving to Florida in the next year (no state income tax) and would like to preserve the possibility to avoid state taxes altogether at that point if possible.If it is easily possible, we would like to shield our personal names and info from being easily looked up by others.In regards ***** ***** liability, costs, flexibility, and anonymity:
1) Which state is best to incorporate in? California, Nevada, Wyoming, etc.? Here you can define best as best liability protection, lowest costs, and greatest flexibility and anonymity protection.
2) What kind of setup is best to achieve everything above? Multiple LLC's, disregarded LLC, hierarchical LLCs, etc.? Please provide enough info here to actually make it happen.
3) What do you recommend as a method to get an out of state address, proxy, and banking if needed (in the state you recommend)?What are other points of interest?
Thanks!
Submitted: 1 month ago.
Category: Legal
Expert:  Law Educator, Esq. replied 1 month ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If you are going to be an online business only, then NV is the best state to form in, because they offer anonymous ownership and will not release information on the LLC even to the IRS other than the information filed with the secretary of state.
If you have separate businesses, then you can use a series LLC in NV which is where you form one main LLC and then you form a separate cell or series for each separate LLC business. Each LLC would then operate as an independent LLC and provide protection (there is no such thing as a "disregarded LLC" that is simply a term used). The series LLC would be used for MULTIPLE LLC, and if each business is separate, then you would want to use the series LLC and you can form the series LLC on the NV secretary of state's website, but you need to have a registered agent for service in NV.
If you do not have a registered agent in NV, there are services in NV that will form your LLC and also will provide an address for a small annual fee. For example, http://www.bizfilings.com/nevada/ongoing-llc-requirements.aspx
https://www.incorporate.com/nevada.html
http://www.northwestregisteredagent.com/nevada-registered-agent.html
Customer: replied 1 month ago.
When you say "for educational purposes only" what do you mean? To limit your liability on your advice? If I proceed with an attorney on advice, we absolutely need them to be vested in the decisions we make based on their advice.You were the first attorney to get into details about series LLC, and begin to offer some examples of specific links, basic details of a structure, LLC anonymity, etc.Regarding anonymity in NV, will competitors be able to look up our LLC/DBA and determine our personal names and addresses from any of the public websites that allow you to research biz info (without series LLC)?Let's say we wish to set up two LLC's in series in NV and get an agent, address, bank, etc. Which of those things can you help with?Do you have a profile or info about your practice somewhere?Thanks!
Customer: replied 1 month ago.
Also, will a NV series LLC be recognized for a member of the LLC who resides in CA, TX, or FL?
Customer: replied 1 month ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Law Educator, Esq. replied 1 month ago.
Thank you for your reply.
Please read the site terms you agreed upon when you posted your question, as none of the attorneys on this site can represent you or any other customer of this site. The site told you when you posted your question that we can provide general information only and by posting your question you agreed to those terms. Actual legal representation on these matters would cost you about $400 per hour and if you want such local legal representation I encourage you to get a local attorney in NV to represent your company.
Under NV law, they will keep the actual owner information on the LLC confidential and you would use an agent of yours to form the LLC who is not necessarily the owner. The series LLC is basically a primary or main LLC with separate LLC under that LLC and they are each separate entities that offer separate protection from liability.
I provided you the links I provided above because, again, we cannot represent anyone from this site, you need to engage local attorneys and agents in NV to actually set up your company and it is unrealistic for any customer of this site to think that they could receive legal representation for the $20 or so paid to this site and the state laws prohibit experts on this site from engaging in any representation.

Related Legal Questions