Legal Question in Business Law in Illinois

Hi,

I plan to run various different websites, all generating income in different ways. Each website will have it's own name and I will be receiving payments made out to each name.

I also do consulting work and operate using my own name.

Question is, do I need to (or should I) start a separate corporation for each of these different business or can they all run under one corporation?

If only only one corp, how can I collect payments using the different names.

Thanks,

Daniel


Asked on 11/30/09, 12:34 am

2 Answers from Attorneys
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

This is really more of an accounting question than a legal one. I suggest that you consult with an accountant expereinced in small business operations.

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Answered on 12/05/09, 7:50 am
Adam S. Tracy Securities Compliance Group Ltd

Your best bet would be to form what is known as a "Series LLC". A Series LLC essentially allows you to form one Limited Liability Company ("LLC") and form various subsidiaries underneath it. Thus, you could form one company and operate under multiple names (eg, per each website), open separate bank accounts/merchant accounts for each name, etc. I can help you with this and answer any additional questions you may have. You can reach me via email: [email protected]

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Answered on 12/05/09, 9:37 am


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