Ownership

• The majority of states allow anyone or any entity to own an LLC, according to the IRS. This includes corporations and other types of businesses, including another LLC.
  
  

Benefits

• Adding a corporation or any other business entity increases protection from creditors and litigation for every other member, according to Gaebler. Also, you can offer fringe benefits, such as a retirement plan, tax free.
  
  

Tip

• Most states allow a single entity or person to own an LLC, as well as foreign companies, according to the IRS. Foreign LLCs have different tax regulations than a domestic LLC in most states.