[MOsales]

I'm forming an LLC with a few buddies. This is simply going to be a side investment to supplement our current incomes.

Problem is that two of us have jobs that may be considered conflicting with this new business. We don't have non-competes with our current job but we'd rather just play it safe.

Is there a way around having our names in the articles of Incorporation?

I'm at a stage in my life where I don't want to be losing my job.

Any advice? It's a long shot that my company would ever find out but I'd rather just avoid ever having that conversation.

What all is trackable through public records? Would it make any difference if I put it under my wifes name?

HELP!

[rogercbryan]

*This is not legal advice as I am not a lawyer. This is strictly my opinion.

Do you in the future plan on leaving you current employer to go full time into this new venture? I’ve been in this situation before. The advice I was given was to choose one and stick with it. Creating a conflict of interest is never a good idea.

I’m not going to comment on how to get around keeping your name off of the records for the new company. I will simply say that it is an all around bad idea to do this.

[ADVERTISE HERE!]

It sucks to hear, but I have found that being candid is ALWAYS the best way to go. Take that for what it's worth.

[SSI]

What about incorporating in Nevada and getting a license to do business where you plan to do the work. Here are a few benefits of creating a Nevada corporation:

* No shares tax as well as franchise tax.
* No succession tax as well personal income tax.
* The minimum number of officers and directors is one. This means that you can set up a one man corporation.
* Nevada has no corporate income taxes on businesses incorporated here.
* The state has minimum requirements for disclosing and reporting information.
* Stock holder information for Nevada corporations is kept private.
* The state does not share corporate any information with the IRS.
* Nevada corporations can purchase, hold, sell or transfer shares of their own stock.
* With regards to the issuance of stock, directors determine the value of these transactions and their decisions are final and binding.
* Nevada has no minimum initial capital requirements if you wish to incorporate your business in this state.
* Corporations in Nevada can issue stock for capital, services, personal assets or real estate.
* In Nevada only the names of the officers and directors of a corporation are matters of public record.
* Corporations do not have to file any other information, listings or even meeting minutes with the state.
* In Nevada the officers and directors of a corporation are protected from personal liability for their lawful acts if they were made in lieu of the corporation.
* Nevada is the only state in the country that permits the issuance of 'bearer shares'.
* Directors in Nevada corporations do not need to be stockholders.
* Nevada corporations have nominal annual fees.
* Stockholders, directors, and officers in Nevada corporations do not have live in the state, or for that matter even be US citizens.

[byzantium]

Nevada incorporation works in every state except California. In CA, it is de facto illegal to "evade" taxes by incorporating in Nevada. A number of people have actually been sent to state prison for tax evasion for incorporating in Nevada and failing to pay the state of CA its cut. Yet another reason to move out of CA if you live there. I live in CA and am seriously eyeing a move to the desert. CA taxes are ruinous. $800 a year franchise fee no matter what, then a profits tax. Taxes can easily reach mid five figures for CA LLCs, which is why Nevada incorporation is so heavily prosecuted. If you don't live in CA, try nevada.org to incorporate in Nevada. The guy who runs it is a YE Forum member.