Forums: Discussions for entrepreneurs and small business.

Hi everyone,

My wife is looking to form an LLC for her online business and I plan on starting my own LLC soon as well. We're wondering what the best way to structure our multiple LLCs should be. Here are a few questions we have:

• Should we create a holding LLC to manage the assets of each of our operating LLCs?
• We live in a community property state (Washington), so should we bother forming multi-member LLCs or stick with single-member?
• What are your thoughts on forming a Delaware Series LLC?

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With just two LLC's I don't see the need to create a Holding Company. If you had more like 5 or 10 LLC's I would suggest creating a separate Holding Company just to keep everything simple. Or if you bring on more partners a Holding Company may prove beneficial.

As far as creating multi member LLC's or sticking with a single member LLC depends entirely on how many members are involved. If you have 2 or more members you must form as a Partnership (LLC) and file a 1065 Tax Return annually. You will no longer be able to put your business on your personal tax return, the business would then stand on its own.

 

 

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Stacy B
Start a Company Online - Setup Corporation - Form LLC
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