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Phillip B, EA
Phillip B, EA, Enrolled Agent
Category: Tax
Satisfied Customers: 638
Experience:  Practicing since 2004. Expert in 1040, small business, represent vs. IRS, & int'l tax mattters.
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I am trying to form an LLC for a real estate development company

Customer Question

I am trying to form an LLC for a real estate development company 'umbrella' as I want to have DBA's under the umbrella for investment, development and construction. Can I do this. It is mainly in DC. Is there any benefit to form the LLC in another state? Like Delaware or Nevada?
Submitted: 10 months ago.
Category: Tax
Expert:  Phillip B, EA replied 10 months ago.
Thanks for using JustAnswer.com! I will do my best to provide you with a clear and concise answer to your tax question based on the information you have provided.

Yes, you can do this. In fact there are many options for this situation. I recommend talking to a local attorney. One really great option that I recommend asking the attorney about, is a "series LLC". A series LLC would allow you to have an LLC for each of your different DBAs, and then they would all file under one income tax return. A local attorney will be able to provide you the proper guidance for your business.

If there are additional questions, please reply to this answer so that I may assist you further. If this answers your question, please rate my performance between OK and Excellent Service so that I may receive credit for my work.
Customer: replied 10 months ago.


should i register it in dc or would delaware be better


 

Expert:  Phillip B, EA replied 10 months ago.
If you do a Series LLC, you would need to do Delaware. Otherwise the state would not matter for tax purposes.
Customer: replied 10 months ago.


I thought you could do the same with DBA's (file taxes and what not) under the one LLC.

Expert:  Phillip B, EA replied 10 months ago.
With DBA's would be fine and completely allowable, and it could be done under any states' or DC (I believe) law.
Customer: replied 10 months ago.

So with one LLC and 2 or 3 DBA's you still file one tax return.

Expert:  Phillip B, EA replied 10 months ago.
Yes.
Expert:  Phillip B, EA replied 10 months ago.
Are they any other questions that I can assist you with, or is there anything I can clear up for you?

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