Posted by Brent_IL on August 20, 2003 at 16:15:09:
This may be more than you need, but this is legal.
I’ve used a limited partnership where the 99% Limited Partner is unavailable to anyone save me, and the 1% General Partner is a LLC. The LLC hires a C-corporation to act as a screener for acquisition identifications and as operations manager. The C-corp in turn hires me. I?m a purchase negotiator, and the Secretary of the C-crop, most of the time. The trustees of the individual trusts hire the C-corp as property manager. I outsource everything I can.
The LLC has a checking account that is used infrequently. The C-corp account is the main account.
It’s a big secret, but all of the various entities are controlled by someone near and dear to me. Not so secret, just ask the IRS.