LLC Flowchart

Creditor

Assets :

The Assets Are Made Unattractive To The Creditor

The manager of the LLC can refuse to distribute the earnings. (If the operating agreement so allows.) What is the advantage of withholding the distribution from the hostile creditor?

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Income Taxes

This means that the creditor is now liable for income taxes on those LLC earnings, whether or not they’re distributed. The hostile creditor is now liable for taxes on earnings not yet received or for what is typically referred to as “phantom income.” This places the member in a stronger position to negotiate a favorable settlement. Hostile creditors don’t want to pay taxes on earned income that’s out of reach.

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Aged shelf corporations and LLC’s offer no tax advantages. We’re not attorneys. We’re not tax advisors. Aged corporations are not an advantage if you intend to do business with the government.

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TIPS

Wyoming Corporation tip#1:

File as a foreign corporation in your home state if sales are not approved in Wyoming.

Wyoming Corporation tip#2:

The Wyoming LLC and the Nevada LLC are known for their limited liability, excellent charging order protection, and flexibility in management.

LLC FACT

FACT: WYOMING invented the American LLC in 1977, as it was modeled after the 1892 German company law known as Gesellschaft mit beschrnkter Haftung (GmbH). Nevada and Delaware copied Wyoming's LLC and profited from it most through better marketing.

LLC FACT

For the LLC charging order protection, the LLC must meet three conditions:

The LLC is manager-managed
The LLC is taxed as a partnership
The LLC has at least two members.

LLC FACT

The LLC charging order protection allows you to set up the hostile creditor to be liable for income not yet received. This places you in an advantageous position for a favorable settlement. A hostile creditor doesn't want to be liable for an income tax when the income hasn't yet been received.

LLC FACT

To combine the LLC charging order protection with the financial privacy of a corporation, the following strategies can be utilized:

A C corporation can serve as a Manager of the LLC
A C Corporation can serve as a member of the LLC.