Creating a "Brand" LLC

[Account Closed]

I plan on doing multiple syndications over a period of time. I want to create an LLC that I can use to be the "face" of my syndication activity and be used as my primary brand in my marketing packages, but I don't want to keep my assets under that LLC. In other words, I want to use the brand name when I place a building under contract and then assign ownership under a new LLC. How can I go about doing this? Also, since my brand LLC wont hold any assets, do I still need to create a bank acct or pay taxes? Can someone please walk me through this process?

Thanks in advance!

[Matt Horwitz]

@Account Closed, I'd avoid giving your brand LLC any ownership in the LLCs which own property. Keep the entities separate for extra protection. The way you go about it is just forming separate LLCs. You don't have to open a bank account or get an EIN for the brand/inactive LLC. You don't have to pay taxes either, federal or state. PA used to require single-member LLCs (I'm assuming that would be your setup) to file an RCT-101 w/ the PA Dept. of Revenue, but that's no longer the case. And federally, the single-member LLC is taxed as a Sole Proprietorship. If the LLC doesn't have any income or expenses, then you don't have to file a Schedule C. Feel free to run it by an accountant to double-check. Let me know if you'd like more detailed steps for how to file an LLC in PA. Hope that helps.