What is a Series LLC

In this video, I discuss what is a Series LLC and how it is set up. There are only a handful of states that recognize the Series LLC and careful attention should be given to how this entity is used. The following states recognize the series LLC by statute: Alabama, Delaware, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Montana, North Dakota, Nevada, Oklahoma, Tennessee, Texas and Utah. The District of Columbia and Puerto Rico also have provisions for Series LLCs but it is not as clear on how they will be respected. California has not authorized Series LLCs by statute, but it does allow Series LLCs that were formed in other states to register as a foreign entity and do business in California so it can tax each series $800 each - ouch.

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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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