2 LLC's and 4 businesses .. how do u know which biz is under which LLC?

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

Let's say I have 4 businesses and 2 LLC's setup (LLC 1 and LLC 2). I want business A and B to fall under LLC1 and business Y and Z to fall under LLC 2. how and where would i specify this?

let's say my LLC 1 is worth a Million dollars and LLC 2 is worth $1000 .. if biz A gets sued, can I just claim Biz A is under worthless LLC 2?

switchex said:

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

Let's say I have 4 businesses and 2 LLC's setup (LLC 1 and LLC 2). I want business A and B to fall under LLC1 and business Y and Z to fall under LLC 2. how and where would i specify this?


**A: your CPA can advise you.

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let's say my LLC 1 is worth a Million dollars and LLC 2 is worth $1000 .. if biz A gets sued, can I just claim Biz A is under worthless LLC 2?

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**A: no since $1000 is not worthless.

"Biz A" doesn't appear to be a legal entity in itself. If BizA is an operation or fictitious name (DBA) of a Corporation or LLC, then the Corporation or LLC will be sued. If it is you operating under that name, than you personally will be sued.

If the corporation/LLC or person who is sued gets a judgment entered against them, and that entity owns stock in another corporation or is a member of the LLC, that can be considered an asset which may be attached.