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re: Making an LLC
Posted on 2/28/13 at 3:36 pm to LSUTOM07
Posted on 2/28/13 at 3:36 pm to LSUTOM07
If it is not a single member LLC, get your arse to an attorney. Creating one is simple and takes about 30 mins, drafting a good operating agreement is another matter and takes longer.
FYI: I'm a transactional attorney. I don't solicit, but I will tell you to get your arse to a lawyer and have them put something together.
It will not only protect you but protect the relationship between you and other members.
Also, if one party is providing services and another capital, there could be tax implications under section 83 of IRC.
Don't be stupid on this.
FYI: I'm a transactional attorney. I don't solicit, but I will tell you to get your arse to a lawyer and have them put something together.
It will not only protect you but protect the relationship between you and other members.
Also, if one party is providing services and another capital, there could be tax implications under section 83 of IRC.
Don't be stupid on this.
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