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What if i want to start 2 separate groups? One dealing in food and one in natural frame products. Not under the identical umbrella even though. I filed for th food business already. Do i just begin another llc and record them each on my taxes? I dont assume to make any money this 12 months, simply spending. I have a non profit prison ministry that i would like to place other ministries below. Maximum are for earnings, but the center purpose for being in business is to minister to others. Could this be finished in texas?.
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In case you discover your destiny plans include the addition of similar lines of enterprise in your present commercial enterprise (or the enterprise entity you are approximately to form), there may be a simple manner to structure multiple business entities that could lessen tax filing fees and administrative time inside the destiny. Hello lori, there are two elements on your situation — first, if each employer is running as a enterprise entity, sure types of liabilities can be separate from different enterprise entity’s lawsuits and liabilities and its proprietors. As an proprietor of any commercial enterprise entity, now not all liabilities are blanketed. Unpaid payroll taxes and proprietors’ negligence operating the enterprise are examples of liabilities that a business owner will no longer be able to escape from duty. As for the liability insurance coverage you’ve purchased for the collective organizations, the language within the insurance contract will dictate whether or not the state of affairs you’ve described would bring about every company and its owners having liability publicity. Yet another observe… it appears atypical to me which you might be able to buy a unmarried legal responsibility coverage for those 3 agencies because their respective risks fluctuate significantly. And the agencies have specific possession systems. I am hoping this clarifies matters a piece for you lori….