A series LLC, also known as a limited liability company in series, is a type of LLC that enables the formation of many “series” under a single umbrella LLC. While still being shielded from liability by the overarching LLC, each series may have its own assets, obligations, and members. What are the advantages of a Series LLC then?
A Series LLC primarily enables increased flexibility and cost savings. A Series LLC can be established, and each series can be developed and managed under the same roof, as opposed to forming separate LLCs for each commercial venture. This reduces the price of creation and maintenance while also streamlining the management procedure.
Increased asset protection is a Series LLC’s second key advantage. The assets of one series cannot be impacted by the liabilities of another series, or the overall LLC, because each series functions as an independent company. Without the need for distinct legal entities, this offers a higher level of protection for the assets of each series and the entire LLC.
What makes Nevada a tax haven, then? Nevada doesn’t have a state income tax, corporate tax, or franchise tax, which has led to its reputation as a tax haven. Because of this, it is a desirable site for companies wishing to reduce their tax liability. Nevada is a great destination for businesses wishing to safeguard their assets and keep their privacy because of its business-friendly regulatory environment and strict privacy legislation.
How much does it cost to register an LLC in Nevada, one can possibly inquire? Depending on the type of LLC being formed and the method of filing, different LLCs have different filing fees in Nevada. A domestic LLC must pay a filing fee of $75, whereas a foreign LLC must pay a filing charge of $150. For a price, there are other possibilities for expedited filing.
Do two companies have to use the same DBA name? No, two companies cannot share the same DBA name since it could lead to confusion and violate the trademark rights of the other company. A “doing business as,” or DBA, name is a made-up name that a company uses to conduct business under a name different than its legal name.
Taking this into account, is a DBA permissible for an LLC? An LLC may use a DBA name, yes. This enables the LLC to conduct business using a name other than its legal name, which might be more appealing to clients or more identifiable. However, it’s crucial to confirm that the DBA name you choose does not already belong to another company and does not violate any trademark rights.