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I am trying to form an LLC for a real estate development company

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'umbrella' as I want to...
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: 4 years ago.Category: Tax
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10/1/2013
Tax Professional: Phillip B, EA, Enrolled Agent replied 4 years ago
Phillip B, EA
Phillip B, EA, Enrolled Agent
Category: Tax
Satisfied Customers: 704
Experience: Practicing since 2004. Expert in 1040, small business, represent vs. IRS, & int'l tax mattters.
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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.
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Customer reply replied 4 years ago


should i register it in dc or would delaware be better


 

Tax Professional: Phillip B, EA, Enrolled Agent replied 4 years ago
If you do a Series LLC, you would need to do Delaware. Otherwise the state would not matter for tax purposes.
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Customer reply replied 4 years ago


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

Tax Professional: Phillip B, EA, Enrolled Agent replied 4 years ago
With DBA's would be fine and completely allowable, and it could be done under any states' or DC (I believe) law.
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Customer reply replied 4 years ago

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

Tax Professional: Phillip B, EA, Enrolled Agent replied 4 years ago
Yes.
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Tax Professional: Phillip B, EA, Enrolled Agent replied 4 years ago
Are they any other questions that I can assist you with, or is there anything I can clear up for you?

Thanks for your business, and I appreciate working with you. If I have provided you with the assistance you were seeking, please rate my performance so that I may receive credit for assisting you. If there is anything that was unsatisfactory, please reply to this answer so that may make things right with you. We seek for your satisfaction above all else. Thanks for your business.
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Phillip B, EA
Phillip B, EA
Phillip B, EA, Enrolled Agent
Category: Tax
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