Entrepreneur

0 readers

1 users here now

Rules

No Personal Attacks - criticism of ideas is allowed, attacking people is not.
Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.

Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.

founded 10 months ago

MODERATORS

communick@indiehackers.space

LLC umbrella? (alien.top)

submitted 10 months ago by justabeardedwonder@alien.top to c/entrepreneur@indiehackers.space

3 comments fedilink hide all child comments

I’m interested in starting an LLC as a sole proprietor/ sole partner. Is it possible to start a single LLC and use that business across industry lines or would it be easier / better to create subsidiaries under the original business for separate ventures? Ex: primary business is niche hospitality. Looking to add separately for a line of small batch wines and liquors, and possible bespoke personal goods (bags, totes, Fanny packs, etc). Can I potentially keep the one EIN / biz, but have it linked to multiple entities on the fictitious name registry?

Currently incorporated in Indiana, but located regionally in the Midwest. Thank you.

top 3 comments

sorted by: hot top controversial new old

[–] AdmirableAd7753@alien.top 1 points 10 months ago (1 children)

The whole point of a L.L.C. is to limit your liability. So, if someone sues your business, you are only liable for assets of that business.

If you have business interests that are completely different, it makes sense to separate those into separate LLCs so that one lawsuit doesn't kill all of your business interests.

And it allows you to do interesting tax strategies if you create a "management company" that manages all of your separate LLCs.

[–] chumming_money@alien.top 1 points 10 months ago

Hey. Your reply caught my attention. Can you provide some examples of these tax strategies for the management company?

[–] EcommerceProdigy@alien.top 1 points 10 months ago

Thanks for the info guys!