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    4 Replies Latest reply on Mar 1, 2008 1:18 PM by RBEnterprise

    Starting Platform

    RBEnterprise Wayfarer
      Is it a good idea to have a LLC own 3 other LLC. Or should i Make one a C Corp to own the other 3. And also can a LLC loan money to other LLC's.
        • Re: Starting Platform
          LUCKIEST Guide
          Starting Platform. Every business person should have an Accountant,
          A Lawyer and Maybe an Insurance Agent.
          Do you?? LUCKIEST
            • Re: Starting Platform
              RBEnterprise Wayfarer
              Yes i just got an accountant. But i have not found an Lawyer not insurance agent at this moment. I have been doing business for a year but the type of business i was doing at the time i did not need an accountant or any other kind of professionals. I will be incorporating my business some time soon but i will have 1 parent company and 3 divisions. all 4 will be llc's. i will have real estate,entertainment,and clothing.
            • Re: Starting Platform
              Lighthouse24 Ranger

              Having read the explanation of your businesses in the other thread (referenced above by dublincpa), I understand that the "parent" company would be an LLC with only one member (you). A potential problem with this (in my view) is that an LLC is technically a "limited life" entity (sole member dies, it dies). Obviously, that's not strictly true, as state laws that regulate LLCs have provisions that allow an LLC to live on -- but the process for that is more complicated than with a C-Corp, and it could leave your spouse/heirs and the members of your subsidiary firms in quite a different asset/debt position that you might have wanted. (Not a pleasant thought, but still a good "what if" scenario to consider and discuss with a professional -- and to plan for if you choose the LLC route.) Best wishes.