Blog

One More Reason to Form a Series LLC

By Marta Truskolaska

Since the state of Illinois became one of a select few in the United States to allow the establishment of subsidiary (series) LLCs under a Master LLC, the Series LLC in Illinois has become an advantageous and desirable entity for many Gardi, Haught, Fischer & Bhosale LTD clients.

There are many reasons to form a  Series LLC in Illinois,  which allows businesses to establish a series of LLCs under a Master LLC. The arrangement is often the best choice in instances where:

• The business is diverse and made up of multiple entities. For example, one business owner may have two completely unrelated operations, like a bike shop and an ice cream shop.
• The business owns and operates real estate and wants to limit liability. The Series LLC allows a property owner to limit risk of liability by forming a Series where each property is titled to an individual series. With all business operated separately, liabilities are insulated from one another if any one series is sued by a creditor.

• The business owner wants to reduce administrative costs. This continues to be the most attractive reasons to form a Series LLC.

According to a press release concerning reduction of LLC filing fees in Illinois from the Secretary of State, the office processes and files approximately 20,000 LLC annual reports and documents every year. The Series formation has always provided a significant administrative savings for business owners over registering each LLC separately. Now, however, filing a Series LLC is even more affordable since IL Senate Bill 867 passed last year, reducing filing fees for LLCs in Illinois.

The fee for registering a Series LLC in Illinois has now dropped from $750 to $400. The filing fee for each series has been reduced from $150 to $50.

As shown in the chart below, even with the reduction in administrative fees across the board for all LLCs, establishing Series still takes the lead as the most affordable way to administer more than one LLC.

Compare the administrative fees for a business owner who establishes a Master LLC and two Series as opposed to three separate LLCs in Illinois. As shown in the chart, the Series saves more than 75 percent over filing individual LLCs for each entity.

At Gardi, Haught, Fischer & Bhosale LTD we are experts at helping businesses establish Master Series LLCs for all the benefits they bring to a business. If you are interested in exploring the opportunity or amending your operating agreement to include of all your requirements, please contact us for a consultation or fill out the free case evaluation form below.

Client Testimonials

Jimmy Su

We just had great experience with Tom Haught and his paralegal Courtney Kropf. The communication is clear and fast. All emails were replied within 30 minutes. We will definitely work with Tom Haught again.

Sagar Kanabar

Jeannette Gonzales

Was recommended to them from my company. They did an excellent job and always answered all my questions. Were always upfront with all things and made sure I understood everything that was explained to me.

Ardus

We used the law firm during the sale of our house. We dealt with Mr Haught and Courtney, who made the process very smooth. They were professional, yet very friendly to deal with.I would not hesitate to recommend them to my family and friends.

vanissa colaco

Our immigration experience with Ann Fischer has been amazing! She has been meticulous, organized and worked on our case in a timely manner. Ann and her team went above and beyond to address all of our concerns and provide a personalized support which made a significant difference during our stressful time.I highly recommend her services to anyone seeking legal representation for their immigration matters.

Mike and Keeley Aulert

We have used Tom Haught for two home purchases and one sale over the years and continue to be impressed by his professionalism, responsiveness, and thoroughness. Reasonable pricing too. Highly, highly recommended.

Waseem Chaudhry

Gardi, Haught is one of professional firm, I have been with G&H since last 8 years in all legal matters.RegardsWaseem Chaudhry

Khurram Ghani

Tom and his dedicated crew recently helped me close on a commercial property, and I must say they did an exceptional job! Throughout the entire process, they were incredibly responsive, attentive to detail, and a pleasure to work with. Their professionalism and expertise made the transaction smooth and efficient. I am thoroughly impressed with their performance and definitely plan to work with them again in the near future. I highly recommend Tom and his team for anyone in need of real estate services!

Ryan B

I'd like to thank Gardi, Haught, Fischer, & Bhosale LTD and the whole Team! For amazing service. They made my selling experience fast, easy and at my convenience. I'm very thankful for the whole team over there. Their service meant alot to me and will be using them in the future. 10/10 !

Roberta Murphy

We worked with Tom and Courtney mainly on our recent closing. While it did not go as planned (all the other side’s issues) they did a great job keeping us informed and in track. Highly recommend.

Request a Consultation

First Name*(Required)

Last Name(Required)

Email Address*(Required)

Phone Number *(Required)

How can we help you *(Required)

How did you hear about us? *(Required)

17709