Legal Question in Business Law in California
Can a for-profit LLC have a non-profit subsidiary?
I have been told that a tax exmept non-profit organization can conduct a for-profit business with certain limitations. However, I want to form a for-profit LLC which I eventualy hope to go public with as an exit strategy. In the meantime, since my primary business is commercial fundraising, I want to form individual non-profit subsidiaries of the LLC, eventually in every state.
What would be the pros/cons, IRS and legal implications?
Asked on 3/09/03, 2:09 pm
1 Answer from Attorneys
Adam Telanoff
Telanoff & Telanoff
Re: Can a for-profit LLC have a non-profit subsidiary?
I agree with Mr. Townsend. This is far too complex a question for here. You need to hire an attorney.
My post is a little self-serving, and if you want to discuss this more, please contact me.
Answered on 3/09/03, 10:40 pm
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