undefinedWhat is the name of your state?
I am starting an LLC in Tampa, Florida (Hillsborough County) and want to form a multi-member LLC for the dual asset protect and because the LLC will own other single member LLCs. My brother is willing to be on the LLC as a managing member or manager but does not want to have to file the companies profits on his tax returns.
How do I set this up so that I am taxed 100% of the profits made by the LLC?
What is the best way to register him (as a managing member or manager?
Does he have to receive any profit from the company and if so how small of a portion of profits will he have to claim?
Thanks for all help in this matter.
Sean
I am starting an LLC in Tampa, Florida (Hillsborough County) and want to form a multi-member LLC for the dual asset protect and because the LLC will own other single member LLCs. My brother is willing to be on the LLC as a managing member or manager but does not want to have to file the companies profits on his tax returns.
How do I set this up so that I am taxed 100% of the profits made by the LLC?
What is the best way to register him (as a managing member or manager?
Does he have to receive any profit from the company and if so how small of a portion of profits will he have to claim?
Thanks for all help in this matter.
Sean