Converting Sole Propriter to LLC Seeking Advise

[paul1232]

What is the name of your state (only U.S. law)? NJ

I have an accounting/business law question, not sure if you can answer if it for me or know the answer off the top of your head.

Scenario: I'm at the point where I want to turn my IT Consulting Business, (currently just a dba) to an LLC to add an extra level of protection between my personal property and business assets.

At the same time I'm changing the focus of my company to 4 different markets:

- Health care (electronic medical records for medical professionals)
- Small/Medium Business Technology Services
- Advertising (Digital Signage)
- Gov./Educational Technology Needs

(I currently have perspective VPs who will oversee the operation of 3 of the 4 enterprises)

Now if each of these businesses takes off in their separate directions there is potential for large sums of money all around. For that reason, I’m starting to lean in the direction of forming separate LLC for each market (changing the business name for branding purposes as needed). Unless, you know a better way that I can structure the companies?

Part II:

Should I form it in NJ or one of these "business friendly states" such as Delaware or Nevada? How much of an extra benefit is it? Will the extra fees that I’d then need to pay to NJ for registering as a foreign business be worth it? (Not to mention subscribing with one of the registration holding companies)