Hi.
I'm a new member eager for some advice. I'm in the process of starting my own production company. I've done my research and feel confident I want to register as a LLC. Currently I live in NYC, but will be moving to NC in the spring. Before I leave NY, however, I will be producing my first independent feature. Practically all of the locations are private residences, and all those involved (cast and crew) will not be paid. That said, here are my questions:
- Is it absolutley necessary to register my company before going into production, or can I wait until after the movie is complete? (I want to hold off primarily because I won't be shooting until the new year and don't want to be subject to LLC tax liabilities this year. I'd also like to wait until after I move, since I'll be registering my company in NC.)
- I know I should also incorporate my feature separately from my pro co. Should it be registered also as a LLC, or as a Limited Partnership? And again, is it absolutely necessary to do this before production, or could I wait until after?
Any advice would be greatly appreciated. Thanks.