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TexLaw
TexLaw, Attorney
Category: Business Law
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Experience:  Internationational Commercial Attorney
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I live in Myrtle Beach S.C., I was going to buy an existing

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I live in Myrtle Beach S.C., I was going to buy an existing restaurant but want to run it under an LLC. However I also wanna own rental property taxes and also have them under the LLC, somewhat like an umbrella. Can I do that? And what would be the best way? -- Jay
Hi,

Thank you for your question. I need you to clear something up for me before I can answer:

When you say you want to "own rental property taxes", what do you mean by that?

I look forward to hearing back from you.

-ZDN
Customer: replied 4 years ago.

Typo, I didn't mean taxes.. I meant I want to also own rental properties, but run everything through the same corporation.

Thank you for your reply.

This is allowed under state law. All you need to do is file the following form:

http://www.sos.sc.gov/forms/LLC/Domestic/ArticlesofOrganization.pdf

-ZDN
Customer: replied 4 years ago.

So for example if the restaurant is "Jay's Bar and Grill" but the LLC is JEA properties.. That is legal and I can run properties under that same LLC?

Absolutely, although you might want to think twice about putting both businesses under the same LLC, as this would expose the assets of one business to liabilities of the other business.
Customer: replied 4 years ago.

Should I incorporate them then?

The safest thing to do to protect your assets is to incorporate both of them separately.
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