A. A “series” limited liability company (LLC) provides for the creation of multiple LLCs under the umbrella of one organization. It is authorized in a handful of states, most notably Delaware. This option provides limited liability protection across the entire series of LLCs. The series LLC is treated as a single entity for state law purposes (typically, one filing fee is required).
Tip: The IRS issued proposed regulations on this point in 2010. The proposed regulations clarify that each LLC is treated as a separate entity formed under local law, regardless of whether or not the state law treats it as a separate legal entity.