How does ASC do it?
ASC carries out the majority of its work through three limited liability companies:
(1) AV Medical Services, LLC (AVMS). Operates the assisted living residence and handles bookkeeping for all ASC enterprises.
(2) The Villas at Academy Village, LLC (TVAV). Owns the buildings and is the developer for new construction on land owned by ASC
3) AV Wellness, LLC (AVW). Oversees the Wellness Center and the Private Duty (Home Health) Program.
Each LLC is a distinct legal entity and operates independently from the other LLCs. For tax reporting purposes, the LLCs are considered disregarded entities.