Hello everyone, new forum member here.
I am starting work on a microbudget feature. Most of the financing is committed. This is my 4th feature and in the past I would have formed an LLC specifically for the film being produced. However, our budget is very low and very tight (aren't they always?) and we've encountered an issue in trying to form the LLC.
We intend to shoot in NY and planned to form the LLC there. However, our budget only has $200 for the formation of the LLC. It won't be enough. NY has a requirement to publish notice of formation LLCs. This publishing requirement will add another $500-700 which we do not have.
I have a California corporation already formed as my production company. Any opinion on the downsides of using my production company (it's an S-corp) as the legal entity rather than forming a separate LLC specifically for this film?
I am starting work on a microbudget feature. Most of the financing is committed. This is my 4th feature and in the past I would have formed an LLC specifically for the film being produced. However, our budget is very low and very tight (aren't they always?) and we've encountered an issue in trying to form the LLC.
We intend to shoot in NY and planned to form the LLC there. However, our budget only has $200 for the formation of the LLC. It won't be enough. NY has a requirement to publish notice of formation LLCs. This publishing requirement will add another $500-700 which we do not have.
I have a California corporation already formed as my production company. Any opinion on the downsides of using my production company (it's an S-corp) as the legal entity rather than forming a separate LLC specifically for this film?
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