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Updated almost 4 years ago on . Most recent reply
Multiple types of business, same LLC (NAICS codes)
Hey community! New here. I recently formed an LLC for a clothing startup I'm working on. I used the NAICS code for clothing manufacturing. I was hoping I could use this same LLC to make my first purchase of rental property. Do I need to create a new LLC, or can I do multiple types of business under the same LLC? Thank you!
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#2 Tax, SDIRAs & Cost Segregation Contributor
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Originally posted by @Emma Sulkowicz:
Hey community! New here. I recently formed an LLC for a clothing startup I'm working on. I used the NAICS code for clothing manufacturing. I was hoping I could use this same LLC to make my first purchase of rental property. Do I need to create a new LLC, or can I do multiple types of business under the same LLC? Thank you!
I can tell you haven’t talked with a attorneys :).
You definitely don't want those activities together in one LLC.
It has nothing to do with taxes but with liability.
- Ashish Acharya
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