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Anonymous ownership in an Iowa LLC

PGP_1038Matthew McKinney is an attorney at BrownWinick Attorneys at Law.

In today’s business world, the internet is in everyone's pocket and privacy has become a precious commodity. Nearly all states publish “public information” on the Internet, allowing anyone with a smartphone to obtain detailed corporate filings with the flick of a finger, for free, or for a very modest cost.

So, in this highly-connected information age, is it possible for you, as a business owner, to keep your identity as an owner in an LLC anonymous?

The answer: it depends upon in which state you choose to form your legal entity. For example, when filing in Arizona to create an Arizona Limited Liability Company, the business owner should first consider that Arizona law requires disclosing - in a public filing accessible online - each member (i.e. owner) in the LLC under many circumstances.  See Arizona Revised Statute 29-632.

Comparatively, Iowa law does not require business owners in an LLC to reveal their identities. This subtle, yet important distinction for many business owners, may dictate the state in which the company is ultimately organized and underscores the importance of seeking legal counsel who can guide you through such considerations before forming a legal entity.

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