I want to create an anonymous LLC and operate in Texas. I don't mind a 2 state solution but want to keep the costs down. Are there low cost strategies for this? I understand that some strategies may not be full proof but I just want to avoid headaches by making it difficult for others to ID the owners.
What do you hope to gain with anonymity?
Do you mean anonymous as in your tenants won't be paying you the checks, they'll be paying it to the LLC?
the anonymity is to achieve both personal and strategic goals of the owners. The decision to go this route has been decided but I am looking for the most cost effective way to achieve this both initially and annually. A Wyoming LLC with S corp status as the parent company is being considered and owning a Texas LLC and with a disregarded tax designation for the operating company. the business is located in Texas.
It costs less than $100 to create an LLC in Wyoming yourself. There are costs associated with maintaining it but they can be minimal if you do everything yourself.
To add onto what @Nathan G. said, Wyoming is a great choice. Probably the strongest "corporate veils" out there. You do need a Registered Agent if your out of state but the in-state lawyer you use to set up your company documents can typically fill that role.
My lawyer in Cody acts as the Registered Agent for his clients for free.
May be late to the party but, New Mexico has the best anonymous L.L.C. practice/requirements.
Just my two pesos,
Another method that investors use is implementing Anonymous Land Trusts. You would purchase the property into your own name and then transfer it into the trust. The trust would be formed by your attorney, who would sign as the nominee trustee, before passing to you as the trustee following it's formation. This way it is the attorney's name on the trust, not yours. You can accomplish the same function at the level of the LLC with an Agent Trust.
When people search for the owner of 123 Main Street (the property,) they will see 123 Main Street Trust as the owner of the property with your attorney as the trustee. Your name is not on public record for the property.
This means that you can add anonymity to the entity structure in the state of your choice. The added benefits of the Land Trust are that (1) you can access the better financing options in your personal name [since the Land Trust is excluded entirely from the Due on Sale Clause,] (2) you aren't paying the annual fees for foreign filing, and (3) your assets can easily roll into any future estate planning you intend to do.
So what did you end up doing