Quotes About LLCs

In this country, we have partnerships, we have S corps, we have LLCs, we have a series of entities that do not pay corporate income tax.

What happens is, in my own case - my own LLCs - the income flows to my personal tax return, whatever is left over after taxes are paid, I feed my family on the one hand, and on the other hand, I reinvest in my business.

they used a mix of Nevada and Wyoming entities to hold the LLCs formed in the states where the property was located.

It should be noted that under California, New York and several other states's law Chalmer could force a sale of Teo's fourplex. This is why you want to use Nevada and Wyoming LLCs in certain states with weak asset protection laws.

you may want to have your California entities, for example, owned by Nevada or Wyoming LLCs, which specifically offer protection on single member LLCs.

LLCs are favored for asset-holding entities.