Parent LLC vs Series LLC - Which Is Right for Your LLC?

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Discover the key differences and benefits of Series LLCs and Parent LLCs, and find out which business structure offers the best asset protection and operational flexibility for managing multiple subsidiaries. We'll dive into the unique characteristics of each, including the significant legal and tax implications, to help you make an informed decision for your business ventures.
TIMESTAMPS
1:24 1 How Parent and Series LLCs Work
2:26 2 Similarities
3:40 3 Differences & Downsides
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💼 Northwest 85% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link - go.truic.com/3QGJtBl (paid)
($29 + state fee)
🕴Read our full written guides on:
What is a Series LLC
howtostartanllc.com/what-is-a...
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#businessstructure #seriesllc #parentllc #entrepreneurship #legaladvice

[@Chefdatdatfire]

Thank you for info ..straigjt forward and easy to understand something g that seems like another language when you start self education when trying to start a business ! I appreciate it ! Going to watch all of them now and look into your services☮️ !

[@HowtostartanllcOfficial]

So glad it was helpful! Our goal is to bring information to small business owners that are figuring things out on their own. Best of luck to you. Please like a subscribe!

[@AfroJayMusic]

First to comment click like 😊

[@CultivationCulture]

Thank you for sharing!! I am in Virginia and wanting to start in agricultural LLC. I plan on starting several different DBAs. My sister has several in Tennessee and a few in Virginia. I went to school for business and should have an LLC started already. I will be 35 soon and my little sister has almost 10 different doing business as Location storefronts that I have helped her get off the ground. I promise my pawpaw. I would help take care of her when he was gone, and I intend on keeping my word.. although if anyone reads this and it’s familiar with Virginia laws, maybe they can help me. I want to make sure that I submit: R-1 Form & the SS -4 Form for an EIN, to operate in Virginia. I want to have a DBA for gardening. Also a different DBA name for livestock. And also a different DBA name for our e-commerce and retail stores. I have been building a brand on social media, although I am yet to complete the two forms.

[@HowtostartanllcOfficial]

Thank you so much for sharing your experience. You two are really making things happen and that must feel good. What specifically were your questions about starting those DBAs under your LLC?

[@CultivationCulture]

@@HowtostartanllcOfficial thank you for replying🙂 you're the Best!!! I @VAhomegrownRx Plan on raising enough money to buy livestock, including goats, pigs, chickens, guinea, turkeys, and anything else that will do good in the higher elevation with four seasons in Southwest Virginia. Just outside of town limits in Tazewell County.. Right now I make my own compost using manure from our stallion and mare horses, plus from the cows that graze the hillside on our property that our neighbor leases just for his cattle. He also has 16 male Kiko Goats, that rotates to help keep the brush down. although he is almost 80 years old. My pawpaw died almost 3 years ago in September and I am the only male in the family other than my uncle who lives in Detroit Michigan. I consultation to make sure that I complete the paperwork correctly informing the umbrella, LLC in Virginia. I plan on having DBA for our nursery/botanical greenhouses (I have to raise money for) A separate LLC to sell our lives stock, and another DBA to sell Honey 🍯 (once I raise money for everything that is required to raise honeybees. There is one local business on Main Street that provides their vegetable food waste and anything that is compostable, they provide it to us, and I added it to the composting Stalls. Uncle Jim’s Worm Farm made a courteous donation of 2,000 Red Wigglers (composting Worms) to kickstart, our Vermicposting Compost Piles! I am going to get USDA certified. I am also getting involved with Appalachian Sustainable Development ( @asDevelop ) . They have a ton of resources here in Southwest Virginia, optimistic outlook to rural communities in central Appalachia. By leveraging the intersections between agricultural economic development, community building and health "ASD" Empowers families with education, tools, and the support they need to build thriving futures. They serve 15 counties in Northeast Tennessee and Southwest Virginia. They have expanded to include partners in eastern West Virginia and Kentucky and Southeast Ohio Appalachian Sustainable Development uses six different strategies to accomplish its work: educating, increasing local food, production, developing markets, increasing distribution of local agricultural products, engaging strategic partners, and researching/consulting and advising. With a vision for the future, that is the health of all segments of the population in the region which improves, and that sustainable agricultural and land use are driving forces in the regional economy.. ASD'S a thriving regional food and agricultural system that creates healthy communities, respects the planet, and cultivate profitable opportunities for Appalachians. They work includes agroforestry where they provide Farmer’s with the training they need to establish agroforestry practices, including : forest farming, Alley cropping, riparian buffers; which helps farmers process and market their crops through the Appalachian Harvest Herb Hub. The Appalachian harvest herb hub helps beginning and experience medicinal herb growers, sustainably, Grow, Harvest, Market, and distribute their medicinal herbs and provide training, technical support, and equipment. The Appalachian harvest food hub provides regional vegetable farmers with training, technical support, aggregation and distribution services, connecting them to retail markets. ASD provides a lot of resources. They also provide central Appalachian food corridor. Which connects producers to wholesale and local retail buyers. The Corridor creates sustainable jobs in local food, production and distribution in five states, Ohio, West Virginia, Kentucky, Virginia, and Tennessee. I really like that ASD provides Farmer’s and rancher mentoring. Which improves startup opportunities for a diverse group of beginning Farmer’s to establish sustain, viable agricultural operations and communities through on-farm internships. The field school by ASD is a farmer training program that includes courses on business planning, finances, and marketing, all geared toward helping Farmer’s create sustainable and profitable small farms. ASD'S Groundwork delivers paid, on the job training to individuals with barriers to employment. Primarily agriculturally based, Chinese, learn, professional, and personal transferable skills which apply to any industry. "grow your own" by ASD empowers, families with training, supplies, and encouragement to grow food in gardens at home, clubs, and schools. Becoming affiliated with Appalachian Sustainable Development located in Duffield Virginia will open a lot of doors and help alleviate most of the 'growing pains' that new businesses encounter when establishing buyer power and a presence in the community and online as well. Eventually I I am going to teach people how to grow. I am doing 15 minute consultations for $50 and each consultation comes with a chance to win a Canna.... rooted Cutting, and or a free sticker pack with medicinal herb seeds such as rosemary, sage, or hemp. If there are any other free organizations that I can join, I will continue joining them. Thank you for the support, and I want to say that I appreciate you in advance for connecting me with the right people to launch an LLC and receive an EIN! As soon as I receive it, I’m going to begin building business credit, applying for grants, participating in collaborations, for advertising and marketing. I am going to buy vacant lots and turn them into community safe spaces in the Town Of Tazewell and expanding throughout the county, and eventually throughout the entire Central Appalachia region! On March 16 I am conducting a community cleanup event at the Tazewell Mall, located in Tazewell Virginia behind McDonald’s & the tazewell County DMV. The town is providing bags., I would like to invest in bags I’m hoping that some people from ASD are able to join anyone is welcome to come volunteer with me. As of now, it is myself, MATT^2 , and a handful of cultivation cultures members. I am working on a flyer and I want to get the word out online. Monday I am going to Southern States to talk to them I researched that they help with community cleanup programs and ironically the location that I chose to clean up first happens to be a few doors down from our Southern States here in Tazewell. I am going to do some more research. I am excited and super thrilled/happy and glad to be able to make a difference in the community that I grew up in. with hopes of creating jobs and getting the youth involved. Right now I have to be on the website. When I have the funds I’m going delegate some of the task that aren’t my strongest skill sets! and I will focus on growing the clones to provide for free to all my veterans who served our country

[@HowtostartanllcOfficial]

Your energy is great! And your knowledge and passion are amazing! We can help you with resources-- from forming your LLC and way beyond. One of my favorite resources are our small business video courses. They're only a few minutes long but each one is full of valuable information. When you sign up for our free business center, you'll get access to over 100 of those video courses. You can sign up here: go.truic.com/3SDVaJ7. If you need help finding the videos, let me know. As for your LLC: Our top-rated LLC service is Northwest. They will form your LLC for $29 plus the state registration fee. That includes one free year of registered agent services. This is our most discounted link for LLC formation: go.truic.com/45hplKy As for your EIN: You can get an EIN online with the IRS for free, here (once your LLC is approved): www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online Once you have those things taken care of, we/I can help with building business credit. You can write in anytime on our KZbin community board. I have a post there for questions. Or email [e-mail]. Thanks again and best of luck to you! At TRUiC, our mission is to offer free resources and information. We support our work by partnering with service providers, earning a percentage on some of the offers we’ve negotiated on your behalf. Northwest is one such partner.