Wyoming LLCs and Foreign LLC Requirements

[Ron A.]

I have been researching corporate structures and am getting some conflicting information.

A tax adviser is suggesting that I setup an LLC in Wyoming, with a trust as the owner, and with me as the sole beneficiary of the trust.

I read several articles that say I may have to register the LLC as a foreign entity in my state, New Jersey, because I would still be "transacting" in in my home state.

I read some exemptions on what constitutes doing business though:

• (7) creating or acquiring indebtedness, mortgages, or security interests in real or personal property;
• (8) securing or collecting debts or enforcing mortgages or other security interests in property securing the debts and holding, protecting, or maintaining property so acquired;

I'm trying to figure out what the bolded section means as far as owning income producing real estate, it looks like it may be exempt?

Thanks!