Legal Question in Business Law in Georgia
Can a single member LLC own other single member LLCs? I'm asking because I currently have three seperate businesses set up as LLCs and I wanted to set up a fourth LLC and treat it like a holding company and give it ownership over the other three businesses. I would like to do this to simplify my banking situation so that I only have to manage one checking account.
1 Answer from Attorneys
Generally, yes, except for an entity that has elected to be taxed as a subchapter S entity. With a few exceptions, such a company can only be owned by individuals. You should discuss the overall organization of your companies with a competent business attorney and tax advisor.
If you would like to discuss any issues further, please feel free to contact my office. The link to my contact information is below. Thank you.
The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
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