LLC question

leadsupplier

leadsupplier

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Aug 11, 2009
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I have to file an LLC, but on LegalZoom i need to declare what type of business i am (ecommerce, marketing, etc...).

As of now I do Affiliate Marketing & manage a number of photoblogs, in the near future i plan on selling an automotive product via ebay which has nothing to do with marketing.

Can I form once LLC and have them cover all these ventures? If anything I'm thinking the blogs and marketing will be ok, but the auto product is what i'm concerned about.
 


leadsupplier said:
I have to file an LLC, but on LegalZoom i need to declare what type of business i am (ecommerce, marketing, etc...).

As of now I do Affiliate Marketing & manage a number of photoblogs, in the near future i plan on selling an automotive product via ebay which has nothing to do with marketing.

Can I form once LLC and have them cover all these ventures? If anything I'm thinking the blogs and marketing will be ok, but the auto product is what i'm concerned about.
Click to expand...

call it a holdings company and then make more LLCs for each venture in the future
 
leadsupplier said:
I have to file an LLC, but on LegalZoom i need to declare what type of business i am (ecommerce, marketing, etc...).

As of now I do Affiliate Marketing & manage a number of photoblogs, in the near future i plan on selling an automotive product via ebay which has nothing to do with marketing.

Can I form once LLC and have them cover all these ventures? If anything I'm thinking the blogs and marketing will be ok, but the auto product is what i'm concerned about.
Click to expand...


The LLC will cover what ever "business activities" are under the business. So anything your LLC owns are protected under the LLC including business's, cars, real estate ect.

Depending how big the other business's are its best to setup separate LLC's for them because lets say Child company gets sued and its owned by the Parent LLC you will lose all of that companies assets. If that child business was its own LLC then the same lawsuit the max you would loose would be the assets of that LLC.

The more you do the more complicated it gets and an attorney can be helpfull.
 
Simply make it a holding company for all your business activities. You can get DBA's or whatever if you want specific ventures with legal names.
 
call it a holdings company and then make more LLCs for each venture in the future
Click to expand...

This .. pretty much


Can I form once LLC and have them cover all these ventures? If anything I'm thinking the blogs and marketing will be ok, but the auto product is what i'm concerned about.
Click to expand...

Yes... I am doing the same thing with my S-corp ... You can also add the auto product but as these grow in value I would seperate them out in their own llcs entity as someone else mentioned if you get sued then all is at risk. I figured with starting out with no company assets and the company has no value at the moment the risk is very low but as it grows it terms of income/assets grows for each area it will need to be separated. Just register multiple DBAs to your LLC as you need them.
 
I have an LLC filing as an S Corp for my primary business.. Then whenever a project becomes profitable I spin it off in to a DBA or LLC under the holding company.. Doing things like this can be a little more paperwork, but makes it FAR easier to sell off a "business" in the future and not have to start over again.. You just sell off the DBA/LLC portion as needed..
 
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