LLC formation with Subsidiaries

[Digitalis]

Is it possible to create a parent LLC (non-operating?) and follow with forming subsidiary LLC's to that parent? e.g., form a parent LLC related to digital content/management and follow by creating subsidiaries to the parent that actually function actively as a business (digital photography, digital asset mgmt consulting, etc.).

Apologies for general ignorance here - I can't seem to procure a direct answer to this potential anywhere; any help/advice would be greatly appreciated!

Further, if this is possible, how does the parent llc need to be structured/incorporated? what tax implications might this scenario create?

THX!

[jasonleexxx]

well i supposed by non operating you mean an LLC that only has non operating income, in the states i am familiar with NY, DE, CA, NV there is no designation as a non-operating LLC when forming.

You can form the corporate structure as you have stated.

First LLC are form under state law so there can be differences by state tax. But fed tax consequences are the same in every state. The federal tax consequences will depend on whether you check the box on the subsidiaries.

[Barkri12]

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