If your going for e-commerce websites on the internet for every website you have receiving money does each one have to have it's own LLC. or can i just call from them with a Parent Company if so how does this work. im still a little bit clueless on this part.

thx

I am stuck in a similiar situation, what I have elected to do is file multiple DBAs for one parent company. It is my understanding that I could technically even have a merchant account for each DBA that I have. =)

Originally posted by neonlexx
I am stuck in a similiar situation, what I have elected to do is file multiple DBAs for one parent company. It is my understanding that I could technically even have a merchant account for each DBA that I have. =)

This is what I would recommend unless you have a high risk business in which case seperating them into seperate LLCs will protect each division from the others. i.e., you own a lumber yard that delivers to construction sites. if you for My Lumber, LLC and My Lumber Transport, LLC... when when of the drivers for My Lumber Transport runs over someone and they sue, in most cases they can only sue the Transport LLC so you may lose that business but the others would be intact.

Does this make sense, because about halfway through I lost myself?!

I understand, makes perfect sense.

My only thing is, does anyone understand the tax implications of this? When you report,do you file for each DBA as well as the LLC?

Originally posted by neonlexx
I understand, makes perfect sense.

My only thing is, does anyone understand the tax implications of this? When you report,do you file for each DBA as well as the LLC?

You only file taxes as the LLC, so you would take all of your DBAs and combine them. The way we account for this is by setting up our General Ledger with main accounts and sub-accounts. What this does is gives us a breakdown of income and expense for the DBAs but also gives us overall financial statements for the entire LLC.

Just for your knowledge if you don't already know.. there are 2 ways to file taxes for an LLC. You can either file as a corporation or as a partnership. If you file as a partnership then and profit/loss is carried on to the LLC members tax filing. If you file as a corporation then it is treated completely as its own entity.

We're filing as a partnership, way cheaper. So you maintain separate bank accounts for the DBAs?

We actually maintain 1 checking and 1 savings at this time. We just keep track of the income and expenses on a General Ledger. Good explaination of a GL is [url=http://www.businesstown.com/accounting/basic-general.asp]http://www.businesstown.com/accounting/basic-general.asp[url] if you don't know what it is/how it works.

If the LLC is a one-member LLC, you can also file as a "disregarded entity" == sole proprietorship on a Schedule C.

I'm not saying I think that's usually a good idea, but it's available - you'll also need to pay attention to see if your state allows treating a single-member LLC like a disregarded entity.