Legal Question in Business Law in Florida

Re: LLC or INC

You generally want to run separate businesses from separate entities. There are several reasons for this, but probably the most important is that doing so limits liability exposure (i.e., a person who sues and recovers from one entity ordinally cannot pursue the assets of the other entity, unless of course he has a separate claim against the other entity as well).

Regarding your ex-wives, it may make sense to use a C-corporation (as opposed to an S-corporation) because the income of the company is not automatically attributed to you (it stays in the company until paid to you, something you will be able to control if you're the sole owner). S-corps and LLCs don't have this luxury because income automatically "passes through" to the owners for tax purposes.

The type of businesses you run as well as the state/local tax regimes may affect this, however, so you would do well to speak with an accountant before proceeding.