Business structure in texas

[Kris B.]

What's the ideal business structure in Texas for sole-owner, flipping business that offers anonymity, tax efficiency and asset protection? Does anyone have a recommendation between Texas series LLC and WY(or NV) C-corp owning TX LLC?

Also, is C-corp an overkill, though it offers tax efficiency? Can you get same level of tax efficiency without C-Corp overhead?

[Account Closed]

Quote from @Kris B.:

Quote from @Lateefah Mathews:

@Kris B. A Series LLC is a complex entity and is only available in certain states. You should verify whether you can establish this type of LLC in Texas.

If you are seeking ultimate anonymity, the state where you domicile your corporation is crucial, as many states do not offer protections for its members or shareholders, which affects anonymity. I'm personally a fan of C-corporations, though they are also complicated. Many shy away from them because they do not want to deal with the extensive paper trail required to maintain separate tax filings for the business.

In short, for the type of protection you're looking for, Wyoming is currently at the top of the list. Nevada has become expensive and no longer offers the level of protection it once did to its owners. Delaware is next up to bat. Remember to file as a foreign corporation in any state where you plan to do business, especially once you start acquiring property, to protect your corporate veil.

Lastly, my Disclaimer: This is not legal advice. :)

Thank you @Lateefah Mathews This is very helpful! 

Are aware of any software solutions/service provider for managing C-corp operations like payroll processing, book keeping etc ?

If you are ready for a C corp, you should reach out to an accountant to take care of this for you. Though I am not sure that is what you need. A simple LLC should work fine for your purposes (based on your post, I'm not aware of your situation entirely)