Setting Up Holding Llc

Summary

To set up a holding LLC in Wyoming for your Florida businesses, follow these steps: choose a name, appoint a registered agent, file Articles of Organization, create an Operating Agreement, obtain an EIN, and register with Florida if necessary. Including a C-corp with a tax loss in your holding structure is possible, but the tax loss cannot offset income in the LLC or other entities. Consult a tax professional for detailed advice. For free legal consultation in Gainesville, FL, consider University of Florida Levin College of Laws Pro Bono Program or Three Rivers Legal Services, Inc.

Full Conversation

I want to set up a holding LLC in Wyoming, to hold my various business LLCs in my state of operation (Florida). I need help.
Sure, here are some general steps to set up a holding LLC in Wyoming:
*. Choose a name for your LLC.
*. Appoint a registered agent in Wyoming.
*. File Articles of Organization with the Wyoming Secretary of State.
*. Create an LLC Operating Agreement.
*. Obtain an EIN from the IRS.
*. Register your LLC with the Florida Department of State, if necessary.
This is a complex process, you may want to consult with a lawyer.
What if one of the businesses that I want in my holding LLC is a C-corp that has a 200K tax loss on paper?
You can include a C-corp in your holding structure, but it's important to note:
- The tax loss of the C-corp cannot be used to offset income in the LLC or other entities.
- You must maintain the distinct legal status of the C-corp within the holding structure.
This is a complex area and it's recommended you seek advice from a tax professional.
Where can I actually speak to a business/corporate lawyer for free?
There are a few resources where you may be able to speak to a business/corporate lawyer for free:
- Legal clinics at local universities
- Pro bono programs offered by law firms
- Local non-profit organizations
- Legal aid societies
Please provide your location so I can suggest a nearby resource.
Gainesville FL
In Gainesville, FL, you might want to check out:
- University of Florida Levin College of Law's Pro Bono Program
- Three Rivers Legal Services, Inc.
Please reach out to them for free legal consultation.