Series LLC

A Limited Liability Company (LLC) is a legal entity which can be created under State Law. In 2006 a new regulation was adopted in the State of Illinois which allowed the creation of a Series LLC. The State of Illinois was one of first states that permitted organization of a Series LLC.
Each business has individual needs and purposes. The Series LLC is a “chain” which allows the organization of mutual entities which can be either joint or separate for tax purposes but still limited for liability purposes (legal aspects). The “Master” LLC is able to create within itself separate “series” or “cells”. All separate “cells” can have either the same or different members. There are many flexible ways to organize “cells” along with the “Master” LLC. If your answer is yes to any of the questions below, you should inquire if the Series LLC is for you.
Please ask yourself:

• Do you have rental real estate?
• Do you have a land development company?
• Do you plan to open another business?
• Do you want to maximize your tax savings?
• Do you need to separate your assets but would like to be disregarded for tax purposes?

If your answer is yes to any of the questions below, you should inquire if the Series LLC is for you.