Creating an LLC

**BW Entertainment** · 03-11-2010 01:16 PM

Hello,

I would like to create an LLC - BW Entertainment, LLC.

I then would like to have a couple businesses (with different names) but protected by BW Entertainment, LLC.

Do I have to do anything special if I am not using my LLC name in my business name?

Also, I may not start these businesses for 1-5 years +. If the LLC shows no revenue the first year, will I have to pay anything for the first year other then the initial filing fees etc for the LLC?

Thanks

**noob** · 03-11-2010 03:23 PM

1. Depends on where you register your LLC, you may or may not have additional fees. For example in California there is an additional franchise tax of $800 you have to pay whether or not you actually succeeded in making a profit or did anything with the LLC. Check accordingly.

2. If you're not going to operate under the BW Entertainment name, what's the point of having it anyway. You might as well register it as a holding company LLC and do DBAs for the rest.

3. I would recommend talking to an attorney to register the LLC. People who register their own LLC without knowing what they're doing often structure it completely wrong. It's not as simple as just setting up the LLC registration with the state.

**BW Entertainment** · 03-11-2010 04:04 PM

Thank you for the response, Noob.

I was thinking of setting this name up as the LLC then running multiple businesses through it. Say for example I started "Dans Retail Shop", "Sarah's Phone Store", and "Chucko Cheeses". All different business names, but all operating under BW Entertainment, LLC.

Would I create BW Entertainment as the holding company, and operate all those businesses as DBAs?

**noob** · 03-11-2010 06:34 PM

Yes but I hope you realize that DBA are nothing more than nicknames you can use to operate under a different business name. If there is any legal problems with one of those businesses, it would affect the whole company since its all under one LLC.

**Southern_Lenders** · 03-11-2010 07:42 PM

Noob is right, I just got a bill from National Registered Agents..some company that partners with Legalzoom..I really have no idea what they do, but I got a bill for 160.00..and the tax in my state is about 100 a year regardless if I make money or not...Here its called a "privilege tax"..or something to that degree.

**GlobalWealth** · 03-13-2010 12:29 PM

This is the wrong way and the right way to structure an LLC. In most cases I find that the DIY'ers are doing it the wrong way. The state of registration is very important as is the operating agreement, other wise you lose any asset protection benefits. Most operating agreements I review are complete junk. You can buy some online for pretty cheap, but most are completely useless. If you value your business, then it is worth doing correctly.

**jmandgroup** · 03-22-2010 09:50 PM

Originally Posted by BW Entertainment

Hello,

I would like to create an LLC - BW Entertainment, LLC.

I then would like to have a couple businesses (with different names) but protected by BW Entertainment, LLC.

Do I have to do anything special if I am not using my LLC name in my business name?

Also, I may not start these businesses for 1-5 years +. If the LLC shows no revenue the first year, will I have to pay anything for the first year other then the initial filing fees etc for the LLC?

Thanks

This how we used our LLLP entity. We formed our company as the parent of several other businesses. Works out good but to have seperate bank accounts (at least in IL) you need to buy DBA for each company you want to house. If you need to save the money than NOLO has some good readings and/or Wiley Publishing has a good brand "Dummies" that can give some what of an idea but the books are no replacement of lawyer.