A Series LLC is unique to Delaware

 

A Series LLC - Limited Liability Company

Wikipedia describes the Series LLC as “a series limited liability company, commonly known as a series LLC and sometimes abbreviated as SLLC, is a form of a limited liability company that provides liability protection across multiple "series" each of which is theoretically protected from liabilities arising from the other series.

In overall structure, the series LLC has been described as a master LLC that has separate divisions, which is similar to an S corporation with Q-subs.

The Limited Liability Company (LLC) has fast become the business entity of choice in the U.S. The LLC allows business owners to achieve limited liability for debts of the business while being taxed on a relatively unrestricted pass through basis.

The Delaware Series LLC Act provides for the creation of separate “series” within an LLC whose debts and other liabilities are enforceable against that Series alone. The Act also provides that classes or groups of members can be established, having whatever rights the LLC agreement says they have. The combination of the two provisions allows a Series to be treated in many ways as a separate LLC. Thus, the Series provisions in the Delaware LLC Act allow for the creation of separate protected “cells” within one limited liability “container” without the need to create separate entities, thus avoiding the inefficiencies associated with multiple related entities. The concept is similar in function to the segregated portfolio companies and protected cell companies designed for the mutual fund and captive insurance industries in Bermuda, Guernsey, the Cayman Islands, Mauritius and Belize.

The Act allows a Delaware Series LLC agreement to designate Series of members, managers or LLC interests that have separate rights and duties with respect to specific LLC property or obligations. So, each Series can be tied to specific assets and can also have different members and managers. If the various Series within an LLC have different members or different membership rights, each Series may be treated as a separate LLC for income tax purposes, eliminating some of the administrative advantage of the Series LLC.

A Series LLC pays one filing fee and files one income tax return each year. Each Series can have its own separate business purposes. A Series can be terminated without affecting the other Series of the LLC. A Series can make distributions to its own members without regard to the financial condition of the other series.

Call us toll free for a quote or a free consultation 877.335.2677 or 561.968.6611

FREE NAME CHECK FORM
Enter two choices of name(s) for your new Corp. or LLC. We will check the name "At No Charge" and email you the results.
Or call us toll free at 561-968-6611 to speak with a representative now!
   

We incorporate in all 50 states

Call us toll free for a quote or
a free consultation 877.335.267
or 561.968.6611

 

McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

All Major Credit Cards Accepted

Get free quote now..!

Call us toll free for a quote a free consultation 877.335.2677 or 561.968.6611 or send us and email at delawarecorp@gmail.com

What our client says

Never have I come accross more professional and cost effective services that ACME Filings Corp has to offer.
Richard Klehe - CEO, TrappedPixel, Inc


Disclaimer: You are responsible for making sure that all documents submitted for the purpose of opening an are suitable for such purpose and otherwise legally sufficient. This includes, without limitation, ensuring that the documents are properly dated, executed, and certified where appropriate. Global Corporate Services, Inc. reserves the right to retain any moneys it receives if there is positive evidence of fraud or any other material civil or criminal infractions by the applicant. Intentional falsifying or withholding of information may subject the applicant to prosecution under the laws of the State of Delaware and United States. In select cases, Global Corporate Services, Inc. may be obligated to share information with appropriate state and federal authorities. Acme Filings Corp.. is a registered agent and document filing service when you start a new business. Our company provides general information and incorporation filing services. We do not offer legal or financial advice, however we do have partners who offer this type of service. The use of our phone numbers on your web site or your corporate stationary is prohibited. Acme Filings Corp. is a division and wholly owned subsidiary of Global Corporate Services, Inc. 1997 - global-inter.net - All rights reserved. All trademarks are owned by the respective company. Limitation of Liability, Restrictions, Privacy and Disclaimer