The LLC and PRO relationship

[mikeymike2000]

Question for the biz folk.

I have a publishing company set up as "bla bla productions" with BMI.

Thinking about going LLC next year and am wondering if I do, would I have to make a new publishing company with my PRO (it would be a different name) or would I just do the LLC by itself (so to speak) and keep the same publishing company that is already in place?

Just wanting to keep everything clean and easy. So would it be a problem if the checks were made to "bla bla LLC" and the publisher was "different bla bla productions" or would it be best to have everything match up? - Would rather not open a new publishing company in the PRO, to save money, but I don't want to confuse accountants either.

is this question even relevant to anything or am I making it more complicated than it is?

[StanSwin]

You can have your LLC be a completely different name than your PRO publishing name, your LLC will just be in the contact info for the PRO. In my case, I decided to make them one in the same for consistency's sake.

[mikeymike2000]

Thanks, Stan!

[coachdebra]

Your LLC can be an umbrella company that owns your publishing company as well as owning you as writer company and you as touring artist company, etc.

Do check with a lawyer on this, however, as the rules for LLCs are state dependent - so it will depend on which state you set it up on.

[slideboardouts]

Out of curiosity, why do you even want to set up an LLC? You say you don't want to incur the extra cost of setting up another publishing account (which is a one time fee), but you are totally cool with taking on the extra yearly expense and hassle of forming an LLC?

I'm not really sure what the benefit of forming an LLC is for an individual composer. If you were an actual publisher/library getting a ton of placements for other writers and pulling in a good bit of money, then I can see how forming an LLC or even incorporating could be beneficial. But for an individual composer? Not so sure thats a good idea. You need to limit your expenses as much as possible because its really difficult getting things going in the beginning. An LLC would just be another expense to weigh you down with virtually no benefit.

-Steve

[mikeymike2000]

Yeah, it was just a thought, so I could write off my entire life. But I didn't realize that in California it costs $800 a year to have an LLC and there are also the initial filing fees.

F- that.

Thanks for the replies.

This thread is closed.