Wyoming LLC formation??

[Account Closed]

So I know I need to establish an LLC to protect my families assets, but I'm a bit confused. Seeing folks setting up a holding company, Master LLC and sub LLC's below that? I know I'm not using the correct terminology, sorry. Can someone please explain why so many LLC's are needed? Do I need a separate LLC for each deal I do or just each category of deals ie: rentals, Brrrr, fix and flip, PML? And why do I hear so many people pushing setup in Wyoming? Can I do business anywhere if my business entities are set up in Wyoming? Do I have to file corporate taxes in WY and personal in TX? I'm so confused, Help!!