Frequently Asked Questions

Can other organizations become members of an LLC and if so, which ones?

Yes, other organizations can indeed become members of a Limited Liability Company (LLC). The members of an LLC are essentially the owners of the company, and there is no limit to the number of members a multi-member LLC may have. The only exception to this is if the LLC is taxed as an S-corporation, in which case each shareholder must be an individual and the company may have no more than 100 shareholders at any given time. The types of organizations that can become members of an LLC include pension plans, trusts, another LLC, a corporation, or a holding company that owns the LLC. It's important to note that while LLC members are not required to be United States citizens, there are some restrictions to who may be an LLC member if the company is taxed as an S-corporation. In some states, you may be required to identify specific LLC members, but this is not a requirement in every state. However, if you're operating a Professional LLC, you will most likely be required to identify members and provide proof of relevant licenses for examination and approval by the state.