If you are emancipated, you can own things, regardless of your age. You need a court order to effectuate that. As a minor, you have certain benefits that you will lose if you operate as an LLC, since an LLC is an entity, same as a corporation. It does not have the benefit of lack of capacity to avoid contracts, etc. There are a whole bunch of issues that are too numerous to deal with in this forum. You really need to sit down with a lawyer to discuss and explore what your options are. You should also have at least one parent accompany you and participate in the discussion, as your age means you lack capacity (legally) to do anything on your own.
Answered on Dec 23rd, 2013 at 4:22 PM