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KJL LAW, Lawyer
Category: Legal
Satisfied Customers: 1383
Experience:  Attorney at law Office of KJLLAW
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What do I need to do to change a few LLC's in to one Master

Customer Question

What do I need to do to change a few LLC's in to one Master LLC with a few DBAs under it??
And what is the easiest and most cost effective way to do it? We currently have 2 registered in Maryland.
Submitted: 1 year ago.
Category: Legal
Expert:  KJL LAW replied 1 year ago.
Good morning.
Form each of your subsidiaries by filing LLC organization papers that list your parent LLC as the owner of the subsidiary. This will allow all profits from the subsidiaries to pass through to the parent LLC and then to you, without being taxed until you pay your income tax.
Customer: replied 1 year ago.
I already have 2 LLC formed....... Do they need to be disolved and start over?
Expert:  KJL LAW replied 1 year ago.
You would have to form a new LLC and then have the new parent company as the owner of the two existing LLC. You would not have to dissolve the old LLC's but just form the new parent LLC. You would have to file an amendments to the articles of organization, and issue a declaration from each of the LLC that they are approving the new LLC to be their owner.