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I am forming a new LLC this month that will be DBA a different name. I will have a general partner and a few limited partners. I also will be starting two other companies this year that will not have the same partners if any. Should I create some type of corporation as a master entity that is the primary partner in all three companies or just form different LLCs for each with out a master company?
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First of all you need to get your terminology straight. Limited Partnerships have general and limited partners. Limited Liability Companies can be structured to look like that but there is a Manager and there are members. Im not sure exactly what you are doing but it sounds like you are trying to do it yourself. It also feels like you may be treading on thin ice in your business endeavors. You sohuld seek out competent counsel to advise you before relying on DIY forms.,
Answered on Jul 19th, 2021 at 7:50 AM