Florida Keys Tax Free Income Fund LLC
Earn Monthly Tax Free Income
To Become A Florida Registered Limited Liability Company Prior To Receipt Of Any Investor Funds
(Please see disclaimer at bottom)
There is no fee to receive the monthly dividends in whole.
Are you tired of your bank paying you less than 1/2 of 1% interest on your savings, and less than 1% interest on your CD's? And you have to pay income tax on that measly interest? Then do what the banks do with your money, invest in municipal bonds!
Objective: This LLC operates as a private investment company. We are not commissioned stock brokers or paid investment advisors. We do not sell shares of our company, nor do we sell securities. Instead, we only invest in relatively safe, high yield, United States tax free municipal bond funds with a mininum annual interest rate of 5% or higher that pay monthly dividends. (Current bank CD rates are below 1.5% and are taxable income.) Dividends are distributed monthly to members based on their percentage of ownership of the LLC. Dividends may be re-invested, partially re-invested, or taken in whole. As with any stock or investment, there is some risk involved. Although municipal bonds are guaranteed by cities, states, and governments, please
click here to see the risks.
Minimum Investment: $25,000. We do not recommend nor seek members that want to risk a high percentage of their available capital. This is not a growth company, we only seek high yield tax free municipal bond funds that pay monthly dividends.
Terms: Members will only be accepted after the 15th of each month. Members will NOT receive dividends for that month. Funds must be cleared prior to the end of the month to receive dividends for the following month.
Fees: A one time set-up fee of 1% of the initial and additional investments will be retained by the LLC. There are no other monthly, quarterly, or annual membership fees or dues. Some money management companies may charge up to 2% each year.
There will be a $10.00 monthly fee for dividends either wholly or partially re-invested, to cover brokerage costs.
Re-invested dividends will compound monthly.
Withdrawals: Request for withdrawal of funds may be made at any time. Please allow 4 working days for brokerage settlement, and bank transfers. There will be a $10.00 withdrawal fee, to cover brokerage costs. There is no "penalty" for withdrawals, however, any withdrawals made before the end of the month will only receive dividends on the remaining balance of the percentage of ownership of the LLC at the end of the month. Withdrawals scheduled for the first of the month will receive full dividends for the previous month. Members must keep a minimum of $25,000 invested. Any request for withdrawals that lower the minimum investment below $25,000 will mandatorily require all funds to be withdrawn based on the value of the LLC at the time of withdrawal.
Should full withdrawal of funds be higher than the original investment, the profit may be taxable. Only the dividends paid by municipal bonds are tax free.
Expenses: 20% of the dividend income will be kept by the LLC for management, bookkeeping, accounting, and operating expenses. The remainder will be re-invested or distributed to members.
Fees and expenses are also tax deductible to members.
Example of a $100,000 investment based on 5% yield:
(Some municipal bonds may pay as high as 8%)
$100,000 - 1% set-up fee = $99,000
$ 330 monthly dividend after tax deductable fees and expenses
$ 330 X 12 = $3,960
$ 3,960 / $99,000 = 4.000% tax free income.
A 4.000% tax-free return is a tax-equivalent yield of 6.154% based on a 35% tax bracket in a state with no income tax.
Broker: Brokerage account is with TDAmeritrade.
Brokerage account statements in the name of Florida Keys Tax Free Income Fund LLC will be available to members at all times.
Bank: Will be First State Bank of the Florida Keys
APPLICATION (Trust, Partnership, LLC, Corporation)
Company President: Tony Paterniti has been a licensed professional in the State of Florida for 39 years in construction and real estate, and has 14 years experience investing in stocks, bonds, mutual funds, and currencies.
Disclaimer: This LLC is not operational at this time. We are currently seeking members interested in receiving tax free monthly dividend checks based on the above terms. Interested investors may contact Tony Paterniti:
e-mail me. This fund will only be available to Florida residents, trusts, corporations, and institutions only. The company will operate in the Lower Keys near Key West FL.
Address: Mailing Address:
TBD US-1 PO Box 420502
Big Pine Key, FL 33043 Summerland Key FL 33042-0602
Current Key West Weather
TO BE ADDED LATER