1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

How Many LLCs Do You Own?

Discussion in 'BlackHat Lounge' started by agag2, Mar 19, 2015.

  1. agag2

    agag2 Supreme Member

    Joined:
    Feb 17, 2009
    Messages:
    1,309
    Likes Received:
    254
    Hi

    How many LLCs or corporations do you own? How do you manage them?

    I'm thinking of creating 50+ LLCs but not sure how to manage so many..

    Thanks
     
  2. BloodyNinja

    BloodyNinja Power Member

    Joined:
    Oct 28, 2013
    Messages:
    583
    Likes Received:
    547
    Location:
    Deeptown
    LLC is just a vehicle, mean to a goal, neither goal nor fuel itself.
    So your question makes no sense.
    The right question is "How many LLCs do you use for achieving this kind of goal?"


    Now regarding managing bigger number of LLCs listen to what Sun Tzy said:

    1. The control of a large force is the same principle as the control of a few men: it is merely a question of dividing up their numbers.
    2. Fighting with a large army under your command is nowise different from fighting with a small one: it is merely a question of instituting signs and signals.

    :)
     
    • Thanks Thanks x 4
    Last edited: Mar 19, 2015
  3. b1step-ahead

    b1step-ahead Power Member

    Joined:
    Nov 15, 2010
    Messages:
    776
    Likes Received:
    316
    Some states have a minimum llc tax that you have to pay per year. In california it's $850 per year,,, so having 50+ llc's per year or more will set you back $46750 a year, not including filing fee's to get started.
     
    • Thanks Thanks x 1
  4. papercut

    papercut Junior Member

    Joined:
    Feb 22, 2015
    Messages:
    135
    Likes Received:
    7
    None :) Never been that bothered since it is just a label.
     
  5. Vic Sage

    Vic Sage Jr. VIP Jr. VIP

    Joined:
    Sep 5, 2010
    Messages:
    1,787
    Likes Received:
    2,170
    Gender:
    Male
    Occupation:
    Franklin Hattchet Method
    Location:
    Franklin Hattchet Method
    Home Page:
    "What BloodyNinja says"+1, Hong Kong based.......
     
  6. sully1975

    sully1975 Jr. VIP Jr. VIP Premium Member

    Joined:
    Nov 1, 2014
    Messages:
    316
    Likes Received:
    99
    Technically, I have a series LLC. They are rare beasts. Misunderstood by many. Hated by most. Appreciated by few.

    They are good for certain applications. Delaware had the first one two decades ago. Mine is a Delaware one. You can recognfigure a DE llc into a seriess llc for a few bucks yourself.

    One fee for in theory infinite "cells" or partions.

    You don't want to take an out of state splinter or fragment into CALIFORNIA. They will try and tax rulle all of them are there at once for $800 a piece.
     
    • Thanks Thanks x 1
  7. cottonwolf

    cottonwolf Regular Member

    Joined:
    Jan 20, 2015
    Messages:
    469
    Likes Received:
    239
    what do you need 50 corps for?
     
  8. sully1975

    sully1975 Jr. VIP Jr. VIP Premium Member

    Joined:
    Nov 1, 2014
    Messages:
    316
    Likes Received:
    99
  9. reoman

    reoman Junior Member

    Joined:
    Sep 13, 2013
    Messages:
    138
    Likes Received:
    142
    Location:
    703
    S-Corp, saves me a bit on self employment taxes.