Hey. This is Brandy. We actually spoke a few years ago about TX vs. FL. My family lives in Houston. I found your LLC post very interesting. I didn’t ask the question for tax benefits or anything like that. My husband is actually a CPA, but has minimal horse experience and none this area. I only own one horse. I have no intentions of selling her and I’m not really looking at it from the business angle. I know two people at a barn where I’ve been leasing/lessoning prior to buying the horse I have now…who have their horses listed as owned by XYZ, LLC when showing. One is former AA who recently turned pro, but only has one horse showing. Everything else she has is retired. The other is a Junior who has two horses. Why an LLC for a Junior…it made no sense to me. The SSN # is interesting, I never thought about that until I won some money in Gulfport this year and they asked for the #. I think I kind of like the anonymity of it, but that’s not a good enough reason to do it. I was just curios about why I see the LLCs listed in a lot of Junior or Amateur classes as the owner and if I was just missing something. This has been very helpful.
Every horse show I go to they require my SSN before I do entries. I like my EIN for that reason. The junior rider’s parents probably formed the LLC for liability purposes, or if they ever want to sell. But really, liability is the biggest thing.
