Accordingly, neither a protected series nor a registered series has any legal existence or power independent of the company at large—so series are not LLCs. The name of the series may not be followed by “LLC.” The Texas Comptroller, for its purposes, states that a “series LLC is treated as a single legal entity. It pays one filing fee and registers as one entity with the Texas Secretary of State. It files one franchise tax report as a single entity, not as a combined group, under its Texas taxpayer identification number pursuant to Sec. 101.622[2] (n.d., Business Organizations Code).
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