[zeroa093]

To add clarity to this. OP _can_ do this right now if they wanted to. The difference is:

1. You have to have an LLC that actually does business. What you don't say is you're also running all your personal stuff through the LLC for business purposes. AFAIK this isn't illegal since the stuff is the company's and you're just "using" it. A good example is a mercedes benz "company car" that, should you fail to make payments (through the company), is now the company's problem and not yours. The other REALLY big nuance here is that the money can't come from you TO your company. It must be company money. Otherwise you pierce the veil.

2. You have to make the LLC before bad stuff happens.

The difference is here J&J is trying to make a subsidiary after the fact. I don't think they can legally do this. Hollywood accounting has the subsidiaries made purpose built as fall guys. This is some "remember how we provided all those vaccines" level bribery.