S Corp, LLC and hiring out contractors

Hi MHUers,
I set up an S corp and a LLC just like Frank said. I’m in the process of hiring out a contractor to build a white vinyl fence. The contractor must produce a certificate of insurance with the park name listed as the certificate holder, before they start work. I’m wondering, what name should be listed here, the LLC name or the S Corp name.
At the bootcamp, it seemed like the S Corp was strictly just for payroll, and the operating account of each individual LLC for each property would be dispursing money to pay contractors. Anyone know how this is supposed to work?

Thanks,
Aaron

A S Corp is just an election one makes with the IRS on how they want the business to be treated for federal tax purposes. It really has nothing to do with insurance. If you want a cert of insurance from the contractor it just needs to say the name of the park/business they are working for.

Separate but related question: Do I need a separate bank account in the S Corp name to pay the park manager, or can it all be out of the LLC bank account?

Yes each llc must have separate bank accounts and separate books. If you commingle it defeats the purpose and they effectively become one for liability purposes and may for tax purposes. You need your accountant and tax advisor to help set it up right

What about the lease? Should the name in the lease be the S Corp or the property LLC name?