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Series LLCs A few states allow limited liability corporations to be created which have separate series. Each series can have different owners and each series is liable only for its own debts, provided the statutory requirements are met. Each series can be treated as separate for tax purposes. The separate series are analogous to different corporate subsidiaries of a corporate parent. The same structure could be created with separate LLCs so why was the series LLC created? In some cases it allows one regulatory filing and in other cases it allows lower filing costs. Generally LLC filing fees are high compared to corporations so a single series LLC filing means lower filing costs as opposed to multiple LLC filings (although the series LLC filing fee is usually higher than the ordinary LLC filing fee).
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Donald M.
Thompson * Chicago Contract Lawyer - 55 W. Monroe #3950;
Chicago, IL 60603 |
