What is LLC

[J-malice]

I see it alot after the name of a label, i looked it up on yahoo and it said Limited Liabilty Company, but why do you see that after alot of labels names?

 

[Guevara]

THATS BUSiNESS TALK, ASK GoD.
SEND HiM A PM oR AN EMAiL.

 

[afriquedeluxe]

limited liability basically means the company has a separate existance to the indivdual owners, so if the company goes in debt, the owner's house for example cant be taken and used to pay off the debt. the opposite is unlimited liability and here if the company is in debt, they take everything, the house, the car, everything.

 

[classic]

limited liability basically means the company has a separate existance to the indivdual owners, so if the company goes in debt, the owner's house for example cant be taken and used to pay off the debt. the opposite is unlimited liability and here if the company is in debt, they take everything, the house, the car, everything.

ahh you beat me to it, good answer

class...

 

[Formant024]

It also nice routing expenses, taxes and profits to balance out all the branches under the LLC.

 

[Ash Holmz]

yeah i work in business to business sales and that term llc comes up all the time ... it has nothing to do with music..... its just a general business term

 

[Formant024]

Well, its a something you can relate to the entertainments industry. You can form a company in a llc structure ( when you're really big that is ) when you have enough exploit within different fields of the entertainment industry. So, one brand but one company on pr, one for productions, one for a&r, one for publishing, etc etc. But like said, it's only for the big players, I've done a proposal once @ deloitte & touche for a structured business plan in LLC setup for international executions and possibly a main office in the Antilles ( Aruba = 6% corporate tax whoohoo! ). They only asked a 70K to make this possible for us.

 

[kwantize]

<FONT SIZE="4" FACE="courier" COLOR=blue><MARQUEE WIDTH=100% BEHAVIOR=ALTERNATE BGColor=white> living legends crew</MARQUEE></FONT>

http://www.llcrew.com he he check it

 

[DJFANTOM]

Well, its a something you can relate to the entertainments industry. You can form a company in a llc structure ( when you're really big that is ) when you have enough exploit within different fields of the entertainment industry. So, one brand but one company on pr, one for productions, one for a&r, one for publishing, etc etc. But like said, it's only for the big players, I've done a proposal once @ deloitte & touche for a structured business plan in LLC setup for international executions and possibly a main office in the Antilles ( Aruba = 6% corporate tax whoohoo! ). They only asked a 70K to make this possible for us.

Not true. You don't have to be a big player to form a LLc I know some 1 Who has a label dats a LLc run out of her house. Its a legal business. Buisness liscence, tax id Llc everything. And she's far from a "big player" . Don't get me wrong tho it does take a lil money. But not as much as ur makin it seem. Any 1 of us could form a LLC if we wanted.

 

[Formant024]

I meant to say that it's not worthy to do so, it's not that efficient on small time companies, I didnt say it's impossible.

 

[DJFANTOM]

I meant to say that it's not worthy to do so, it's not that efficient on small time companies, I didnt say it's impossible.

Oh yeah I agree. Cause you gotta pay taxes on profits plus a lot of legal crap to deal wit. On the level most of us on its better not to form a " legal buisness" period. .... Shit uncle sam aint gettin non on my dj/ production money you feel me.

 

[Formant024]

hehe, that's what you say, but if you set up an international LLC with offices abroad, the US government can put you up with a grand ( grant, I dunno hehe ). This grant is $300K, you can get some nice stuff done this way.

Its all relative hehe

 

[Formant024]

<FONT SIZE="4" FACE="courier" COLOR=blue><MARQUEE WIDTH=100% BEHAVIOR=ALTERNATE BGColor=white> living legends crew</MARQUEE></FONT>

http://www.llcrew.com he he check it

Word hehe!!! (I)llcrew lol!

 

[chris]

LLC=Ladies Love Chris lol just playing

Yea its a businenss term that doesnt really have anything to do with music.

 

[Formant024]

yes it does have to do with music when your dealing with the entertainment's industry or are engaging into your own bizz. This is knowledge that will make you poor if you didnt knew.

 

[SyN]

yo, i just wanted to say... LLC is actually mor beneficial for the smaller guy than the big corporate monster... when the corporate bigshots do that sorta thing it is just one more way of playing the world... but for the little guy... it is a way to make sure that if anything goes bad with your company that they can't take away your kid's college fund.. or that house that you saved forever to make a downpayment on... or worse yet... take away your gear

 

[Formant024]

True, but then you're still talking about some capital investment the little players dont easily come up with, hence that you dont see small ventures in LLC structures. Only when the big money comes in they'll end up in a worked out company profile.