Setting Up Holding Llc

Summary

To set up a holding LLC in Wyoming for your Florida businesses, choose a name, appoint a registered agent, file Articles of Organization, create an Operating Agreement, and obtain an EIN. Register with Florida if necessary. Including a C-corp with a tax loss in your holding structure requires maintaining its distinct legal status, and tax losses cannot offset LLC income. Consult a tax professional. For free legal advice in Gainesville, FL, contact 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.