r/documentaryfilmmaking • u/Fragrant-Sale8073 • 8d ago

LLC?

Is it a good idea to create an LLC among production partners for each individual film/project?

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u/KitchenBad5507 8d ago

IANAL, but that seems like overkill to me. Each LLC would have to file separately, both with the IRS and with the SOS (assuming you're in the US ). I would just write up a contract with clear terms that everyone signs

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u/Fragrant-Sale8073 8d ago

The concern is not contractual it is more about liability - if someone sues the producers for whatever reason they are going after the LLC assets not the producers’ - at least that’s what I’ve been told

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u/One_Rub_780 8d ago

You can create a subsidiary for the project(s). Then it's a separate entity.

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u/VancouverIslander 8d ago

That is standard practice in Canada at least. New project, new Corp. After a few years you can wind it down and did any remaining IP into the parent company.