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Is there a way to be a member of a corporation or LLC without my name being displayed on the secretary of state website?
Anonymous2 views3 answers
trying to figure out how to start a legal entity (corp, partnership, or LLC) and basically have controlling interest but mask my involvment from that company. Is this somehow possible to do? I need to mask my involvment because if my current employer found out I was involved with another business he may get upset. Any help would be appreciated.
Richard Ronald BernsteinBusiness AttorneyBellevue, WA ·
If you want to own your interest directly, I can think of two ways. Washington closely held corporations have no obligation to reveal the names of the shareholders to the state under normal circumstances. Just do not become an officer or a director, because then your name will be revealed in the annual report.
For an LLC, you need to be a member of a manager managed LLC in order not to be disclosed. For such entities, only the manager has to be identified.
The problem with both of the foregoing is that you are going to be a passive investor and will have no real control.
In addition, your name as an owner will be reported to the federal government when the entities report their taxes each year.
It would be a good idea to speak with a lawyer familiar with these issues before you invest.
Generally, the shareholders are not disclosed in organization documents nor are members of the LLC. In Washington State the only name disclosed is that of the "executor" or incorporator who forms the entity. You could have a lawyer do that for you and your name will not be disclosed. The lawyer's name will show up as the executor or incorporator. You will also need a registered agent. There are companies that provide the service, or you may find a person to do it.
As an abundance of caution, you could form a trust or a separate company to hold shares in trust for you or as your nominee.
In short, you should be able to form a new company of have someone form it at your direction. You could remove yourself yet further by using a trust or a separate LLC to hold your interest. Of course, you could also use a friend or relative.
In Illinois, it is normally just the registerd agent and president (for corporation) or manager (for LLC) whose names appear on the website. Thus, if you are a controlling shareholder/member but not the president or manager, then your name should not appear. You should talk to an attorney first to be certain that you set this up correctly.
