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How many LLC's for different businesses?

Asked by: greg  — 26 February, 2013

I want to buy and sell some real estate and also plan to open a retail store and body shop, do I use 1 LLC for all companies or have an LLC for each?

Answered by: admin  — 26 February, 2013

Greg,

Theoretically, you could use one LLC for mutliple business, however it is not recommended. Since each business carries its own liabilities it is a good idea to limit those liabilities as much as possible by forming LLC for each business.

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