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What states allow series LLCS? Some states allow you to form a series LLC and other states don’t. Other states that have a series LLC option include Alabama, Arkansas, Delaware, District of Columbia, Illinois, Indiana, Iowa, Kansas, Missouri, Montana, Nevada, North Dakota, Oklahoma, Puerto Rico, Tennessee, Texas, Utah, Virginia, Wyoming. Read more on www.thebalancesmb.com Certain … Read more
What is the owner’s title of an LLC? Owners of an LLC are commonly referred to as members. If a manager is hired to run the LLC, that person is often called a member-manager. While not as common, corporate titles can be assigned to members, such as President, Founder, Chief Financial Officer (CFO), or Chief … Read more
What is the difference between a manager-managed LLC and a member managed LLC? In a member-managed LLC, the owners have collective control over company decisions. A manager-managed LLC places management authority in the hands of a professional manager or one or more elected members. This choice goes to the heart of your company’s day-to-day operations, … Read more
Why is LLC dissolved? It is usually the result of failing to either comply with state law or file an annual report. The power of the Secretary of State, however, is broad, and in many states, an LLC can be dissolved for nearly any reason the Secretary deems fit. Read more on www.score.org The prospect … Read more
How long does it take to set up an LLC in Kentucky? How long will it take to form my Kentucky LLC? If you order the Basic or Standard package, we will file your paperwork with the Kentucky Secretary of State within four to five business days and you’ll receive your completed LLC documents one … Read more
What is dissolution partnership? Partnership dissolution refers to the termination of a partnership as well as the cessation of its various business activities. Read more on www.lexology.com A frequent type of company organization when two or more people join forces to run a firm is a partnership. However, partnerships can end for a number of … Read more
How do I create multiple LLCs? Ways to structure multiple LLCs Run both businesses under one LLC using a DBA. Say you already have an LLC but you want to branch out to another service or focus area under the same niche. Create separate LLCs for each business. Create a Holding Company with separate LLCs … Read more
What is a holding company LLC? A holding company is a parent business entity-usually a corporation or LLC-that doesn’t manufacture anything, sell any products or services, or conduct any other business operations. Its purpose, as the name implies, is to hold the controlling stock or membership interests in other companies. Read more on www.wolterskluwer.com A … Read more
How much does it cost to set up an LLC in Alabama? The Alabama Secretary of State charges a $100 fee to file the Certificate of Formation. You must also pay a separate Probate Court filing fee, which is at least $50. You must reserve your business name by filing an LLC name reservation. It … Read more
Can a trust own an S corp? Only estates, individuals, and certain trusts can own shares in an S corp. However, the number of beneficiaries of an electing small business trust (ESBT) or voting trust are all counted as shareholders for an S corp. If you fail to comply with these strict ownership rules, your … Read more