[YPCrumble]

That is genius and exactly what real estate developers do in Philadelphia. They have one shell company for their brand and a separate shell company for each development. If they have 100 separate houses to develop, they may have 100 separate shell companies. This way they close the shell company as soon as they finish a project so that any lingering issues in the community have no recourse.

Say they build a house next to yours and tear up your roof in the process causing it to leak. You need to sue them ASAP or their company will no longer exist in a month or two so you have nothing to sue.

I’d love to hear why LLC’s are a good idea; for the most part they seem like a scheme to avoid responsibility and evade taxes for rich people.

[1123581321]

I can’t comment on the balance of LLC use, but the good idea is that someone who cannot afford large personal losses can start a business that won’t ruin them if it fails. Additionally, the personal tax and business paperwork is simpler than with a corporation.

A bunch of the small businesses that sell at local city markets are LLCs, for example.

[swaggyBoatswain]

Not sure about LLCs but to my understanding its common to have an umbrella LLP encompassing all the LLCs