Legal Question in Business Law in Florida

Hi,

I am starting a company in FL which is in effect an umbrella company with multiple brands (fictitious names/DBA) except for 1 (a tech company). We have been struggling with the formation of the company. We currently have 8 partners. The brands are all entertainment and marketing based. Event productions, promotions, event staffing and marketing/consulting. Each partner has a specialty and will head a brand/department. We are considering an S-Corp and having the tech company registered as an LLC with the S-corp as a majority shareholder. We are starting with very little capital and just want to figure out what is the smartest most cost effective and least work intensive in the short and long term; start as an S-Corp NOW and register the DBAs as needed or start as an LLC and change at a later date?


Asked on 4/10/11, 2:49 pm

1 Answer from Attorneys
Richard Kaplan

Good thinking, but to answer it properly needs a bit more information. Specifically, how are the partners interrelated, and how are profits and losses intended to be divided?

The LLC may be best at the for each division, and the parent could also be a LLC.

You really should consult directly with an attorney to find the right choice.

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Answered on 4/10/11, 3:36 pm


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