Quote from @Da Shiek Woodard:
Quote from @Simon Ashbaugh:
How quickly do you want to scale? If you will stick with one for a bit I don't think there's a need for it. If you want to get a few more in 2023, it would make sense to get one just after the first of the year. I'd go for the Wyoming LLC personally, but I really value anonymity and paying as little tax as possible.
The anonymity I understand conceptually but can’t the corporate veil be pierced as soon as you are party to a lawsuit? I guess it does help to stop people from just Googling your info, but someone like Grant Cardone literally has Cardone Capital for the name of his business. Of course he has a giant legal team now but I’m just trying to see how beneficial the anonymity is.
How does the Wyoming LLC reduce your tax liability compared to an in-state LLC? Sorry for the specific questions but you caught my interest with your response.
@Da Shiek Woodard Wyoming also doesn't have a personal income tax, LLC members generally will owe no state tax on income they earn from a Wyoming LLC. The only tax for LLCs, is the annual license tax of $50 or a small percentage of the value of your LLC's assets located in Wyoming. This is how I understand it, though, I'm not a tax attorney or a CPA so I recommend talking to someone more qualified.
