Not that I'm passing the buck, but typing "starting an LLC" into google.com came back with 2,900.000 links.
Stolen from this web page
LLC Operating Agreement Information
What is a Limiteed Liability Company? A limited liability company, commonly called an "LLC," is a business structure that fits somewhere between the partnership or sole proprietorship and the corporation. Like owners of partnerships or sole proprietorships, LLC owners report business profits or losses on their personal income tax returns.
How many people are needed to form an LLC? You can be the sole owner of your LLC (limited liability company) in all states except Massachusetts, which is expected to allow the formation of one-person LLCs in the future.
What are the differences between a limited liability company and a partnership? The main difference between an LLC and a partnership is that LLC owners are not personally liable for the company's debts and liabilities. This means that creditors of the LLC usually cannot go after the owners' personal assets to pay off LLC debts. Partners, on the other hand, do not receive this limited liability protection unless they are designated "limited" partners in their partnership agreement.
I would suggest that the band acquire a financial management consultant or hire a CPA to determine if it is better to do this then to incorporate.
Bill
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Studio Guru
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