TEIL Firms wants to make sure your business is properly structured. One type of legal structure that we have created is known as a "Series LLC."
The Series LLC allows limited liability for a number of businesses formed under one umbrella company. The important thing is that tax filing requirements the umbrella organization to file and not all 5 cells. This makes the tax requirements less stringent.
Practically, if you have 5 businesses you can form them under one umbrella. The five business would be the cells and the umbrella company the series. When created there is limited liability for each cell or company and it does not cross over to the other cells and one income tax form is filled and not 5.
The forming of the series is more costly up front, but the cost to form, but saves time in the long run. The series LLC is not available in every country and is not for every business, but is a viable alternative when there are multiple businesses and controlling the taxes and management of them is at issue.
Continue forming and excelling in business and trust TEIL to answer your questions about your multiple companies!