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Can a corporation be a member of an LLC?

 
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Category : > Library To Create An LLC In USA
Posted On : Fri Aug 28th,2009

 
How to register an LLC and make corporation a member?
 

What is a Holding Company?

A holding company is a parent or a mother company holds other entities, and  can be a Corporation, Limited Liability Company or Limited Partnerships. It holds or owns enough voting stock in another firm to control management and operation.

Can a corporation be a Holding Corporation?

 The corporation is one of the business structure utilizes to conduct business. It is registered with the secretary of state or a division of corporations. The corporation has stockholders and maintain it as per the bylaws. A corporation can also hold a corporation as a stockholder instead of a person.

Corporation Serving a Member of an LLC instead a Person

  • A corporation can be a member of an LLC. This allows you to create an additional level of ownership, which is designed to create an entity that can offer such traditional fringe benefits,such as retirement plans and an additional level of protection from liability.
  • It is created when a business uses the structure of a holding and operating company or the corporation holds the company's shares instead a person.
  • Corporation as a holding company holds all business assets and provides you additional protection.
  • You must check the state requirements, you are utilizing corporations as a member of the LLC.
  • You will provide the limitations and obligations of the corporation utilizing as a member of the LLC in the operating agreement.

How would profits or losses will transfer?

The holding company is registered as a Limited Liability Company will pass-through profits or losses to the corporations, and corporations will transfer to their stockholders to file taxes.

How to register subsidiary under a Limited Liability Company as a member?

  • A subsidiary should be registered with the Secretary of State of a Division of Corporations as a corporation by filing an article of incorporation or a certificate of incorporation.
  • A subsidiary should get an Employer Identification Number from the Internal Revenue Service.
  


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Comments (1)
PATRICIA SEIG   wrote on : Wed Apr 27th,2011
CAN I CHANGE MY CORPORATION INTO AN LLC. I LIVE IN THE STAE OFNJHOW DO I GO ABOUT IT?      View Detail
Reply : infotaxsquare.com
 
Dear Patricia Seig:

State of New Jersey does not have a provision to convert Corporation to an LLC (Limited Liability Company) or  vice-versa.


To structure your business as an LLC you need to create a new one. If you want to retain us to form an LLC your can either use following link or call us at 516.822.3100

Referenced Article:

https://www.infotaxsquare.com/article/states-allowed-article-of-domestication-and-conversion.html

To create a new LLC:

https://www.infotaxsquare.com/processor/order-init.php?o=lc

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For instant news please subscribe at www.InfotaxSquare.com


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