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Thread: Can LLC work on Corp-Corp basis

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    Cool Can LLC work on Corp-Corp basis

    Hi,
    I have registered an LLC through legalzoom.I just selected the default option while filling the application on their website.My LLC was registered and I recieved a letter to that effect.
    I would like to know if my LLC can takeup Corp-Corp positions.I will provide you with an example
    There is this position with Company A and they accept corp-corp candidates.I have a candidate well qualified for the position.Can I submit the candidate through my LLC ? (I have heard that they might ask some insurance during the agreement..) Please let me know what are the additional actions I need to take...

    Thanks,
    Raja

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    Hi, Raja.

    My law firm actually competes with LegalZoom, and the benefit to us is that we offer similar services at the same or better prices, but we have actual lawyers and paralegals do the work -- and that means not only do we have the advantage of attorney-client privilege and confidentiality, but we can answer questions like yours for our clients. LegalZoom cannot.

    I tell you all of this, simply because this is a VERY common question we receive from our clients.

    The short answer is: Yes, in general, LLC's have the capacity to maintain an ownership interest in other companies.

    There is a longer answer, however: It depends on the other company. For example, S-Corporations (whether actual S-Corporations, or LLC's being taxed as S-Corporations) have limited ownership requirements, and may not be owned by other companies. See https://www.irs.gov/businesses/small...s-corporations. Also, depending on the Operating Agreement of your LLC, you may have certain formalities that you must follow, before your LLC can take an ownership interest in another company.

    I hope this has answered your question. Good luck to you!

    Larry.
    Law 4 Small Business, P.C.
    https://www.L4SB.com
    Call us at 505-715-5700, or Toll free at 888.99.BIZLAW (888.992.4952)

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