I’m interested in starting a online fashion business anonymously. I am based in New York . I’ve done some research and found out by filing in Wyoming or Nevada I might be able to do so I’d like to know
what a professional’s thoughts are
Should I file as a llc or s Corp
Will i have to file in both locations if I’m based in New York (considering its a online business )
3 Answers from Attorneys
That sounds like a great idea.
It's a good question you're asking, but the reality is there are many dozens of questions to be asked about your business model and intentions. It sounds like a simple question; I know. I get that a few times a month. The answer is anything but straight-forward. Solid legal and accounting advice is part of the startup costs for a business. You either have the capital to invest in the business model, or you don't. And, whatever you can accomplish in Wyoming or Nevada can be replicated in New York. Guaranteed.
If you form an LLC outside the state where the LLC will be operating then you will have to file a tax return and in the state of formation AND in the state(s) of operations. You will also have to register as a foreign company in the state(s) of operations ($) and likely all other fees will be higher as well.
The consequences of forming the LLC in the wrong state will be with you for a very long time and will cost you many thousands of wasted Dollars if not thought through.
I offer a flat fee consultation and formation service for entity formation that is about the same price as the national formation services AND you get an attorney doing it and consulting you. And yes, you will get initial resolutions, an operating agreement, EIN and a banking letter!
Contact me directly.
Roman R. Fichman, Esq.
www.TheLegalists.com │ @TheLegalist
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It is not practical to think that a single member LLC can achieve real anonymity. For that you may require a strawman, which is not recommended.
But if you use a virtual office for the forwarding address, NY will have no public record of the members. That is, it is not required to input that information on the filing documents.
Before you commit to anything, I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.
If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.
Our firm is now referred by the American Bar Association (see under the New York section): http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html
DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.
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