How To Create Your Own Llc – You have great ideas for new businesses. You’re ready to incorporate to protect yourself and your personal assets, and you’ve decided it’s time to take the next step and create an LLC for your various activities. Then, the questions become: What kind of business activity can I conduct with my LLC? How many different businesses can I operate under one LLC? Do I need to set up DBAs? Do I need to create a separate LLC for each project? Will a Series LLC work for me or should I stick to traditional public corporations? Currently, Delaware is generally considered the gold standard for forming an LLC, LP, or corporation. The Delaware LLC is the most popular for most companies to build a startup. As a result, people often wonder if an LLC can manage multiple LLCs under one holding company. Forming Multiple Businesses Under One “Umbrella” LLC For example, if an owner owns a trucking business as an LLC but after a while, may want to offer services property. These are two different types of businesses, so this raises the question of whether an owner can provide both services under the same LLC. Part of the reason, usually, is to avoid the additional costs of maintaining an LLC. The answer is yes – it is possible and permissible to operate multiple businesses under one LLC. Many businesses choose to do this by using a “fictitious name” or “DBA” (also known as a “same business activity”) to create new businesses under a different name. However, just because it’s legal and possible to do different types of business under one entity (LLC or corporation) doesn’t mean you have to, because it can be confusing. For example, if one company is sued, others’ assets may be at risk. As a result you face a high level of liability risk. In other words, if a part (business) in the LLC can be held, then the entire LLC can be held. As the old saying goes, “Don’t put all your eggs in one basket.” Instead, many people choose to file a new LLC for each of their business startups. It separates the risk by separating the assets and liabilities of each company. Think of different companies that help put a big brick wall between each LLC. There are additional management fees, but this should protect your business and give you the peace of mind to separate from LLCs. I will serve. What about Series LLC? Some people are looking for a low-cost LLC business if they want to manage different businesses, which is very attractive because there is only one annual franchise tax fee and one annual registration fee. state of Delaware. However, this type of business is new and unproven, so many problems arise when dealing with an LLC chain. Many service providers, banks, lawyers, accountants and other professionals do not know the chain concept. It usually takes time to explain the concept for testing by the bank’s lending team and get approval for the required documents. It is considered safer and wiser for people to completely separate their business interests from each other by forming an LLC for each type of business; Basically, what you are doing is setting up a Delaware LLC as a limited liability company and other, separate LLCs, but separate from it. LLC’s Are Separated for Different Businesses As of today, military practice, proven to create any LLC formed for each type of business is the most important strategy. used by tax professionals, lawyers and business consultants around the world. . This means that every part of the business, every product line, every service offered, every piece of property, many people consider forming regular LLCs. By doing so the assets, liabilities and liabilities of each LLC are completely separated and protected in case of any litigation. When setting up multiple LLCs, it is very helpful to develop a blueprint hierarchy of how the LLCs are related. For example, people often set up some LLCs for property development. This structure usually includes a parent LLC at the top of the hierarchy – let’s call it ABC Holding Company, LLC. People often form multiple LLCs, one for each piece of real estate—we’ll call them ABC Real Estate 1, LLC; ABC Real Estate 2, LLC; and ABC Real Estate 3, LLC. Each LLC may own, control and be responsible for a portion of property; Therefore, even though all LLCs share the same holding company—ABC Holding Company, LLC—and may have the same characteristics, ownership rights, assets, and liabilities, they are separate and protected. from each other in order to protect the property and resources of each individual. . LLC. This is considered a smart and strategic way to further protect your personal assets from your LLCs. If you would like more information or have questions about starting your own companies, please contact us by phone (800-345-2677), Skype (), email or live chat. One of our business startup experts will be happy to help you. Next: How to create and use a DBA
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How To Create Your Own Llc
I own an LLC and am looking to open another business that is unrelated to my previous business. I think I can apply for DBA and get this job under first. However, I thought about keeping them separate by creating a sole proprietorship and then getting an EIN for the second business. How do I get a “dba” business name for a single role? The only way I can register a dba business name is by registering it under another corporation or my llc.
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Thank you for reading our blog and for your question. Typically, you file separate LLCs for each separate entity so that you don’t have all your eggs in one basket. Our office manager will give you more information and help answer all your questions.
Hi I am a landlord with four properties. The dead can say what the LLC says. I am buying properties in a nearby state. Do I need to form an LLC in that state? Thanks Stephanie
Thank you for reading our blog and for your question. We will be happy to assist you with your inquiry and will be in touch shortly to assist you further.
Hello, many thanks for the article. I am planning to start a laundromat business as an LLC and I hope to have many. However, I have a DBA in the process, I can use the DBA for accounting purposes as an LLC but each laundromat can have its own LLC separate from the DBA. Or will I have separate records for each company under their own LLC?
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Thank you for reading our blog and for your question. One of our representatives will be happy to contact you to help explain all of this.
Hi, my name is Precious. Thanks for the article, really informative. I have a business that offers services but I’m looking to organize something related to products, do I need to register a brand before all my businesses or should I open one LLC as the parent company in my current business?
We will be happy to contact you to discuss your questions further. One of our representatives will be in touch shortly.
Namaste I found your site very informative. My question is, I have incorporated an LLC in the process of becoming a non-profit. A good friend wanted to start a for-profit business that was completely unrelated to my original llc, but asked me to set up a for-profit business under my new llc. Do I have to act as a parent as a parent llc Inc with members or not?
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