According to the June 21, 2004 issue of BusinessWeek and Bloomberg Wealth Manager, Wyoming is for tax-haters. The taxes earned from the production of oil and natural gas within Wyoming borders pays for most of the state’s operating budget. Residents are taxed so little that Bloomberg Wealth Manager has named Wyoming the wealth-friendliest state.
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.
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.
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.
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.
To combine the LLC charging order protection with the financial privacy of a corporation, the following strategies can be utilized: