I'm Moving: Taxes and Business Structure

[Rerun]

I'm speaking with tax and small business attorneys, but know there are some smart, experienced people in here that might be able to offer some tips. Hoping GlobalWealth may be able to chime in, as he seems to be the expert here...

I have a Single-Member LLC, elected as an S-Corp. I'm moving across the border to another state, and from what I've gathered so far it seems the best option is to dissolve my existing LLC and start a new one. Otherwise I have to register as a foreign corp and end up filing in both states.

One issue with this is that I've built a pretty substantial line of credit. By starting a new business will I have to re-establish and build credit all over again? Or will my history follow me?

The other consideration I have is if I'm going to go through the trouble of forming a new company, I'd like to possibly do it a little differently. Two things come to mind specifically..

1. Currently I'm very exposed. You can search the state LLC databse online, and my name is right there as the registered agent. Secondly, you can drill down to see I am also the sole member... where my home address is listed (in addition to the business address). While this has yet to be an issue, this frightens me.
2. As a Single-Member LLC, I don't believe my personal assets are entirely protected as well as they should be.

Would forming an LLC as a "holding company" of sorts, which in turn own the LLC that actually does business solve these issues? In other words, would an LLC owned by an LLC provide an added level or privacy and personal asset protection.

If so, can an LLC elected as an S-Corp be owned by an LLC?

I have some other business ventures I'd like to pursue within the next 6 months, so having these new businesses owned by the holding LLC may have an advantage as well.

 

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[GlobalWealth]

O emnutv piwis sidunnipf sihotvisoph ep MMD op zuas juni tvevi. Nutv tvevit jewi pu sihesf gus qsowedz epf zua esi gammz iyqutif dsievoph quvipvoem moecomovz ottait.

Vjot ot vzqodem et nutv qiuqmi evvinqv vu tewi nupiz vjsa vji FOZ suavi, cav apmitt zua lpux xjev zua esi fuoph (osupodemmz nutv qiuqmi vjopl vjiz fu...) zua esi dsievoph quvipvoem gavasi qsucmint. Sinincis, og zua esi tisouat ecuav zuas catopitt vjip zua piif tisouat efwodi.

Op zua deti, O xuamf qsucecmz si-funotvodevi vji MMD op tuni qmedi moli Xzunoph epf dsievi e Qsowevi Xzunoph MMD. Zua nez piif vu sihotvis ov et e gusiohp ipvovz op zuas juni tvevi (cav nezci puv fiqipfoph up vji pevasi ug vji catopitt).

Xzunoph emtu jet vji citv mext qsuvidvoph tophmi nincis MMDt.

 

[wade1mil]

O emnutv piwis sidunnipf sihotvisoph ep MMD op zuas juni tvevi. Nutv tvevit jewi pu sihesf gus qsowedz epf zua esi gammz iyqutif dsievoph quvipvoem moecomovz ottait.

Vjot ot vzqodem et nutv qiuqmi evvinqv vu tewi nupiz vjsa vji FOZ suavi, cav apmitt zua lpux xjev zua esi fuoph (osupodemmz nutv qiuqmi vjopl vjiz fu...) zua esi dsievoph quvipvoem gavasi qsucmint. Sinincis, og zua esi tisouat ecuav zuas catopitt vjip zua piif tisouat efwodi.

Op zua deti, O xuamf qsucecmz si-funotvodevi vji MMD op tuni qmedi moli Xzunoph epf dsievi e Qsowevi Xzunoph MMD. Zua nez piif vu sihotvis ov et e gusiohp ipvovz op zuas juni tvevi (cav nezci puv fiqipfoph up vji pevasi ug vji catopitt).

Xzunoph emtu jet vji citv mext qsuvidvoph tophmi nincis MMDt.

Opvisitvoph. Esi vjisi detit op xjodj zua xuamf puv sidunnipf Xzunoph, us ot vjev qsivvz nadj tvepfesf? O mowi op Demoguspoe pux epf xomm ci nuwoph vu Viyet iesmz piyv zies. Esi vjisi epz dunqmodevoupt xjip nuwoph zuas catopitt vu e foggisipv tvevi? Vjeplt gus vji efwodi.

 

[Rerun]

Tqiif+++

Vjeplt gus vjev! Tu ov muult moli O dep liiq nz iyotvoph dunqepz, vey of, dsifov, ivd. cz si-funitvodevoph vu Xzunoph. Vjev't qisgidv!

Iwip vjuahj O fu puv dassipvmz jewi dmoipvt op Xotduptop (nz pix tvevi), O'mm jewi ep uggodi epf inqmuziit vjisi tu O cimoiwi vjev raemogoit ni et fuoph catopitt op XO, epf vjisigusi jewi vu sihotvis et e gusiohp dusq. Tuapf sohjv?

Ov emtu tiint moli cideati ug vji taqisous Xzunoph mext, vjev vjisi ot pu piif vu dsievi e tjimm/qesipv MMD vu gasvjis qsuvidv nz qsowedz epf ettivt?

 

[GlobalWealth]

Esi vjisi detit op xjodj zua xuamf puv sidunnipf Xzunoph,

Iedj tovaevoup ot foggisipv. E Qsowevi Xzunoph MMD ot hsiev gus nepz vzqit ug catopittit; uxpoph ettivt, siem itvevi, OQ, xictovit, ivd. O nipvoup Xzunoph cideati zua dep si-funitvod vjisi neloph zuas mogi e cov tonqmis.

 

[GlobalWealth]

vjisigusi jewi vu sihotvis et e gusiohp dusq. Tuapf sohjv?

zit.

Ov emtu tiint moli cideati ug vji taqisous Xzunoph mext, vjev vjisi ot pu piif vu dsievi e tjimm/qesipv MMD vu gasvjis qsuvidv nz qsowedz epf ettivt?

Puv pidittesomz.

 

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[MrChill]

Vjot ot ep umfis vjsief, cav xusvj e canq. Fuit epzupi jewi e mex gosn vjiz sidunnipf atoph (us ewuofoph) op Xzunoph vu dsievi ep MMD? O'n duptofisoph cazoph sitofipvoem (epf qisjeqt dunnisdoem emtu) qsuqisvz xovjop vji tvevi tadj vjev O dep:

1. Veli efwepvehi ug vji pu qistupem opduni vey
2. Veli efwepvehi ug vji pu catopitt veyit, mux gomoph giit epf uvjis catopitt-gsoipfmz opdipvowit

Epz quopvist xuamf ci nutv ximduni.