If my daughter and 2 of her friends are starting charity, do I need to set up an LLC?
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If my daughter and 2 of her friends are starting charity, do I need to set up an LLC?
If so, can I still do it as they are minors? They are in high school and want to make tutus and accessories to sell and donate the money.
Asked on October 2, 2014 under Business Law, North Dakota
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
Kids all over the world are staking a stand on world issues and it should be commended. There are certain business issues, though, which you recognize. The fact that you as an adult are willing to be involved is a BIG help for the kids. But I would speak with an accountant about the best ways for you to do this. You could have them start a "hobby business" which does not require you filing a profit and loss statement but allows you to take expenses. There are a lot of options. Good luck.
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