My structure is this create one Main LLC that will be shareholders of sub-LLCs.

Under item E for effective date of S election I'm instructed to begin my first tax year, with no prior tax year on January 7.Under column N I'm asked to enter the month and year that each shareholder's tax year ends...

Just so happens that one of my friends dropped out of our yearly Berkshire Hathaway shareholder meeting trip.

His name is on our Articles of Incorporation and they will not pay commission to him as an agent and a shareholder about 80% of the time.

They pass the dividends to the shareholder who pays taxes on them.Their shares are in fact traded just like regular stocks (at least for the exchange traded ones).

3) Should our incorporator remain a non-shareholder for privacy or asset protection issues?

., they pay corporate income tax on their profits and if any of those profits are distributed to the shareholders as dividends, the shareholders pay tax on them.

Again, has to be a great dealIf its an ok deal then you may cut back pending on what your responsibilities are 40/60 35/65 etc..You should grill your investors on how important a property manager is as a share holder.

:) Not only will you not have to pay taxes you will have to pass  90% of your earnings to all your shareholders!!

He also is responsible for investing shareholders money.