[dikaio]

We have a business in Las Vegas incorporated as an LLC and incorporated in Wyoming to hold real estate that we purchase overtime and leave to our kids and just yesterday we were notified that FinCen is requesting names, contact information, IDs (passport, drivers license) and percentage owned in the corporation. I would have thought they would have had all that information prior from our filings. In my eyes there’s nothing wrong with any of this, it’s all standard procedure but my assumption is that it’s all rooted from an underlying issue, the US balance sheet keeps going up and the government is looking to cross all Ts and dot all I’s on where they can collect. The underlying issue never gets fixed, that’s that the government can’t stop spending. Fix government, fixes the issue.

[ragnot]

So to clarify, you have an LLC in vegas owned by a holding LLC in Wyoming? Is that only for anonymity?

[dikaio]

No the LLC in Las Vegas has nothing to do with the corporation in Wyoming, i provided it as reference to show that one may have a business in one state but be incorporated in another to protect personal assets, it’s quit common. We could have accomplished the same by placing each property in an a Nevada LLC but Wyoming corporations are cheaper, arguably easier to manage with better protection. Both states have no State taxes.

[cyanydeez]

good.

wealth transfer is obscene.

[dikaio]

You are either sorely misinformed or highly inept on the subject.

[edit] to provide clarity. Holding assets in trusts or LLCs has nothing to do with doing anything illegal, and you will find politicians, people working in 3 letter agencies etc all do the same, we all pay taxes just like you. So attempting to leaving a comment with a critical view particularly in contexts where it might be seen as unfair, unjust, or disproportionately benefiting the already wealthy at the expense of others just shows a lack of understanding of the subject. Even though my initial comment has nothing to do with taxes I will leave you with this.

"Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands."

This quote captures the essence of tax planning and the legal right of individuals and businesses to minimize their tax liabilities within the bounds of the law. - Judge Learned Hand

[cyanydeez]

If it wasn't obscene, why hide it?

Oh.

[dikaio]

sigh. It has nothing to do with hiding and everything to do with protecting ones assets. My guess is you either have no children or little in assets; if you happen to have either and mean what you've written above I would suggest educating yourself on the matter before writing comments like you have. Good luck.