Selden, NY asked in Business Formation for New York

Q: I am a starting film maker. I have 2 movies with their own LLCs . should I form production holding LLC?

I am a starting film maker. I have 2 movies with their own LLCs (one with a partner/the other as a single member - so the one we are two managers/the single member, I am the only manager) - both films will add investors as members, but I need to file as a signatory, and purchase insurance. My question is: should I form an umbrella/holding company (as my own film production company), and file as a signatory and purchase insurance under the production company? And how would I add both film LLCs to the umbrella company?

Related Topics:
1 Lawyer Answer
Michael David Siegel
Michael David Siegel
  • New York, NY
  • Licensed in New York

A: This is really more of a tax issue than a legal one. Thus, consult an accountant. That being said, I think the LLCs should be separate, and there should be no umbrella for both.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.