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Level 2
posted Mar 18, 2020 12:12:53 PM

How can I tie an LLC to an S-Corp?

South Carolina does not issue DBA's for a second business. The County does not recognize them either. I want to have my S-Corp with an LLC that is under the umbrella, so the LLC can only have the corporate assets at risk. Is that possible or do i need to have two S-corps?

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1 Best answer
Level 15
Mar 18, 2020 12:36:23 PM

You need to consult with a tax attorney.

 

However, a single-member LLC (because it is a disregarded entity) can be a shareholder in an S corporation.

 

See https://www.journalofaccountancy.com/issues/2001/may/limitedpartnershipandllccanbeshareholdersofscorp.html

1 Replies
Level 15
Mar 18, 2020 12:36:23 PM

You need to consult with a tax attorney.

 

However, a single-member LLC (because it is a disregarded entity) can be a shareholder in an S corporation.

 

See https://www.journalofaccountancy.com/issues/2001/may/limitedpartnershipandllccanbeshareholdersofscorp.html