Does anyone have an experience or a referral on how to set up one?
This is not for rentals, for my side project.
Why do you want to mess up your life?
First, there is no Anonymous llc
Second, there is a minimum $800 per year tax to CA no matter whether you make money or not
Third, you need to maintain documents, if you make any expense/revenue…etc
Above all, it is easy to establish, but hard to close the LLC.
Good Luck.
I hear mexica has anonymous llc.
The reason is two fold: i want to learn about it, and see if i can use it. Working while doing side project is painful.
I am forming a real corp for one of my projects which some of you guys know. For the other one, which is more like a weekend project (where i will work on it at most 3 weekends) is more experimental.
LLC or S-Corp is a pain unless you really make money at least $12000/year.
You also need to file taxes for those.
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Once i am done with beta, i do eant to form at least an llc, for liability reasons.
Anonymous llc is more of an experiment.
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You can file one online in Nevada which is anonymous. They don’t even share info with the IRS. Don’t tell the commie state of California that it exists, or they’ll hit you for $800/yr.
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Are you making software? or some prototype? If so, you need patent protection than LLC.
If you need LLC or S-Corp, the purpose is to account all revenue, expenses, tax filing etc.
Visit Library near by and read some company formation related books and you will know the details.
I am a tech worker, and while california allows me the ip of my side projects on my own time, my employer js a big corporation, so they can claim interest. Until i prove the idea, i want to be free of distraction, pretty much.
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For my actual side project, i am using stripe atlas so some of these resources are available, online. They form a corp, and give instruction on taxes.
For the other one, i want privacy. It is very risky with my employer.
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I have a number of patents, but i do not believe in them in the context of this. Hard to do, and i wont have any interest in filing lawsuits againt others.
Didnt know about Nevada’s anonymous LLC - very useful. A long time ago I setup one in Florida and like Jil says I had to do the legwork myself - sending out K-1s every year and paying fees, etc. Dont want to do that again.
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I forget what the verdict was, so no LLC or S-Corp for rental properties?
No llc, but umbrella was the verdict, iirc. You still want to setup a trust, though,lm
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I thought people recommended LLC for liability protection and maybe tax purposes. There was a thread on that somewhere here.
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With California’s broken court system, it could be a good idea to form a LLC to hold rental property. The only downside is the $800 per year tax to California, which might be worth it if it can prevent one lawsuit in 10 years. 8k legal fee for 1 lawsuit is still a good deal. Plus, tenant or others may have more interest to sue a person instead of a LLC.
How to report LLC rental tax? If your rental LLC has a net profit, do you pay income tax on LLC? That could be lower than personal income tax, right? But then when you report personal income tax, how do you report this LLC schedule E income?
Transfer to llc is tricky, and could trigger due on sale.
You can trick the system by using trusts.
There i go:
Scared of Gavin Belson and Hooli claiming IP over your encryption algorithm 
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