Multi Unit in Arkansas Entity Formation

[Christopher Lopez]

Hi all, 

I am looking to take down a 12U MF project in Arkansas. I am doing this with a partner who lives in AR, and I live in FL.

We both have LLCs in our respective states. Our original plan was to form an entity in AR that would own the property, then have a WY LLC own that to increase the protection but mostly have the anonymity with our respective LLC being ultimate Beneficiaries.

I reached out to a few services that were suggested here on BP. Some were outrageously priced imho, but when questioning further, one hit me with the below response if anyone here has had some experience with this type of formation in AR that can offer some insight i would greatly appreciate it!

Best,

Chris

Response from registered agent service:

I have been looking more into Arkansas and have found out some additional information from our Filing Team. With Arkansas, you are not required to list the Member information on the Articles of Organization. The Member information is required for the Annual Reports, but this information is kept confidential.

The thing that is different with Arkansas over some of the other States, is that if you want an Entity listed as the Member, the Entity MUST be formed in Arkansas, which this make things a lot more complicated.

With this being said, I am not sure if you would still want to pursue the Wyoming Entity. I would advise that you talk with an Attorney or a CPA to make sure you are structuring this as needed.