Question 10.   If I establish an LLC in another state such as South Dakota, Nevada or Wyoming with their Resident Agent, do I have to give up control of my business that I have worked so hard to build?

Answer.    First of all, normally the business operation itself will remain in your state of domicile. To base your business in a state such as Nevada while continuing to maintain all or the vast majority of your business operations in your own state would result in your being required to file organizational papers in both states and which we, therefore, advise against. If you use an LLC structure in your own state for your business, we would presume that you would become the manager of the LLC and, thus, would still remain in control. If you establish an LLC in Nevada for the ownership of non-business assets (e.g., stocks, bonds, certificates of deposit, other rental properties, etc.), then you would presumably be designated as the manager of that LLC and would still remain in control over the administration of such assets.