I have many existing small business DBA%26#039;s that are currently each setup as a sole proprietorship. I would like to create an umbrella with a new California LLC, whereas it will be the main owner of all of the other companies in which I own 100% of. My main reason to do this is to protect my personal assets and to organize my companies.
I know how to setup an LLC but what other paperwork must I complete to successfully change these existing sole proprietorship%26#039;s records? Where can I find this paperwork?
Is this the right way to handle my situation (pros versus cons)?
I know there are many questions here but your detailed assistance is greatly appreciated. Thank you!|||I would find a good California corporate lawyer and ask him/her these questions. The laws differ from state to state.
Yes, I think it would be the right way to handle your situation. You want your personal assets seperate from those of the businesses, and the LLC will do this. And proper organization is essential if you want said businesses to continue to prosper.|||I dont know this for sure, but I think you would have to set up an S-corp or Corp because i think LLC only allows you to have one identity. I would ask a lawyer about this or call your state office.
