I'm in a situation where I have ownership of several lucrative passive sources of income and am looking to set up a business structure to avoid harsh taxation. After some research, I think it would be best (although there's a large probability of me being wrong) if I had a single S Corporation that owned an array of LLCs, which in turn held the assets. Each set subcategory of assets will need a business structure in order to run, and I'm concerned about having one large conglomerate managing everything.
MSPaint Diagram here.
I need the S Corporation to fund new projects as they come and not be associated with me as an individual. I'm looking for a structure somewhat resembling how Buffet works through Berkshire.
Is this structure the most efficient way of avoiding high taxation? Will the S Corporation be taxed on the income it takes from each LLC (thusly creating a double taxation situation)? Should the top corporation be a different business type? Is the entire idea of having multiple levels absurd?
Just trying to get this whole situation figured out - thanks a ton guys.