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Is there any limit to how many LLC's I can have?

Discussion in 'Business & Tax Advice' started by chicken goes cluck, Jun 18, 2015.

  1. chicken goes cluck

    chicken goes cluck Registered Member

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    I can make LLC's for around $50 but is there any kind of limit?

    Also if there isnt if I had lets say 28 LLC's would the IRS be all over me?
     
  2. selo

    selo Junior Member

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    Probably not as long as the operation is totally legal - but it will surely make you easier to see. Why don't you use nominees/friends to be the administrator of the LLCs?
     
  3. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    You could structure it all as an umbrella group of companies and yeah, as long everything is run legit you can have hundred of LLC's.
     
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  4. Terminal15

    Terminal15 BANNED BANNED

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    It can be group of companies, Put it as is, Your name Group of companies, Nothing will be on to you unless there is something fishy, but i guess you should be fine., But why in the hell would you need 28 LLC's
     
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  5. sully1975

    sully1975 Jr. VIP Jr. VIP Premium Member

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    It depends. Sometimes a series llc is the answer, with its one cost to x number of cells blooming off of it.
     
  6. Banker1984

    Banker1984 Newbie

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    Why you have some many LLC`s???
     
  7. chicken goes cluck

    chicken goes cluck Registered Member

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    thanks so much guys would it be the same for opening up so many S-Corporations?
     
  8. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    How many do you have now?
     
  9. neu009

    neu009 Senior Member

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    See you accountant for best structure for you. Are you in the US ? If so don't forget the self employment tax, and of course the yearly report for the LLC. S-corp has more requirements but can save some money if done right.

    The IRS won't be all over you for 28 LLCs, but you of course have to pay taxes on them and won't get around them anyways. Assuming you want a business bank account/cc they will still ask for SSN anyway.

    Just my 2 cents, no tax advice here go see an accountant.
     
  10. marufmse

    marufmse Newbie

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    thanks for your question
    hopefully you can some info visit this site
     
  11. MrE

    MrE Executive VIP

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    Depending on reasons for needing so many names you might be better off to use DBA/Operating As (Do Business As) names instead. Your life would be much easier come tax time; file tax on 1 company rather than 30+.
     
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  12. dustonly

    dustonly Registered Member

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    im not sure where your located, i know people that have created tons of llc where i am at here in the usa, i asked the person that does my taxes for me how does that work regarding filling taxes, and what was told to me is you can report the business but if they had no profit then you would be ok would have to pay anything.
     
  13. easyshow

    easyshow Newbie

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    is it possible to open a LLC with 50 bucks ?
     
  14. khanhdom

    khanhdom Newbie

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    no it's not for $50. the court fees cost more than $50. I think he meant when you use a service to sign up for LLC which is $50 + the court fees in wherever you make the LLC as it varies per state