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Parent LLC question about liability
jacksk
subscriber Posts: 1
Hello.
Many people have one parent or umbrella LLC that operates several other businesses, especially for online ventures.
For anyone knowledgeable or operating a parent LLC, can you please advise if you need to register for limited liability and pay the franchise tax for every other trade to have the same protection?
In other words, for example:
Parent LLC
Parent LLC d/b/a Child
If Parent LLC is sued, generally there is protection for the owner's personal assets.
If Chlid gets sued, does the limited liability protection from Parent LLC pass down to Child, so if Child gets sued it's actually suing Parent LLC.
Or, if Child gets sued there is no protection for the owner's personal assets since Child is not a separate LLC?
Thanks,
Jack
Many people have one parent or umbrella LLC that operates several other businesses, especially for online ventures.
For anyone knowledgeable or operating a parent LLC, can you please advise if you need to register for limited liability and pay the franchise tax for every other trade to have the same protection?
In other words, for example:
Parent LLC
Parent LLC d/b/a Child
If Parent LLC is sued, generally there is protection for the owner's personal assets.
If Chlid gets sued, does the limited liability protection from Parent LLC pass down to Child, so if Child gets sued it's actually suing Parent LLC.
Or, if Child gets sued there is no protection for the owner's personal assets since Child is not a separate LLC?
Thanks,
Jack
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