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LSU Tigers (official thread)

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Yeah, I don’t know that an LLC would necessarily help in something like the scissor left incident. Not a lawyer, but I think gross negligence or willful conduct by the member typically will not provide liability protection for the member.

The retirement plans available to an LLC are pretty great, though. A solo k plan or even defined benefit can allow some pretty major tax-deferrals for the member if there are no employees. I’d be curious to know it can be justified that some portion of the salary gets allocated as 1099 income when the individual is pretty clearly an employee of the university. My guess would be something relating to endorsements, appearance fees, and other income that relates more to the coach’s NIL than to their actual coaching.
 
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ScriptOhio said:
One benefit is legal protection in a civil suit. Operating with an LLC or similar business can also shield a coach during potential litigation, see article (below):

www.dallasnews.com

'It's not millionaires hiding money': Inside the use of LLCs by high-profile CFB coaches, from its roots to legal protection

Ed Orgeron is known as the LSU coach who has the most recognizable voice in all of college football.But on paydays, the hoarse-throated,...
www.dallasnews.com

'It's not millionaires hiding money': Inside the use of LLCs by high-profile CFB coaches, from its roots to legal protection​


I believe that in the unlikely event (of say) a scissor lift accident at LSU and somebody tries to sue Kelly for negligence over it, the LLC money is protected, etc.....:roll1:
Click to expand...
I'm going to guess his LLC is something like...

Scissor Lift Assassin LLC .... etc.
 
Upvote 1
Fungo Squiggly said:
Yeah, I don’t know that an LLC would necessarily help in something like the scissor left incident. Not a lawyer, but I think gross negligence or willful conduct by the member typically will not provide liability protection for the member.

The retirement plans available to an LLC are pretty great, though. A solo k plan or even defined benefit can allow some pretty major tax-deferrals for the member if there are no employees. I’d be curious to know it can be justified that some portion of the salary gets allocated as 1099 income when the individual is pretty clearly an employee of the university. My guess would be something relating to endorsements, appearance fees, and other income that relates more to the coach’s NIL than to their actual coaching.
Click to expand...

I think you hit the nail on the head with the endorsements. The LLC is used to manage all of the revenue sources. They get around the “but you only have one revenue source so you should be W2” by routing the endorsements and other through the LLC. It used to be, maybe still is, an issue for an individual to be 1099 and only have one ‘client.’ Maybe / likely things have changed.
 
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