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29 Mar 2013, 12:09 pm by Michael W. Huseman
Further, section 30-5 of the Act provides that a transfer of a distributional interest in an LLC does not give the transferee any rights as a member but only the right to receive distributions by the LLC, while section 30-10 provides that transferee may become a member only if all other members consent (805 ILCS 180/30-10(a) (West 2008)). [read post]
The Court also pointed out that even though the Uniform Limited Liability Company Act does not require the cost to be incurred on behalf of the company to receive reimbursement, Iowa has not enacted that provision. [read post]
11 Jul 2018, 1:30 pm by IncNow
The LLC does not have stock or stockholders. [read post]
15 Dec 2022, 7:50 am by Matthew Dochnal
However, an LLC Membership Certificate does not function like corporate stock. [read post]
22 Mar 2016, 10:50 am by Joshua Fershee
March has provided a slate of mistakes as to entity form, focusing (as it almost always does) on limited liability companies (LLCs) and various outlets calling such entities "corporations. [read post]
31 Aug 2022, 11:42 am by IncNow
This is true even if your business does not have any employees. [read post]
30 Nov 2020, 7:08 am by J. Ross Pepper
(The Act’s provisions always apply, by default, where an LLC does not have an Operating Agreement). [read post]
7 Nov 2016, 9:16 am by Matthew Odgers
The franchise fee is payable by any entity that does business in California, and is due in the first quarter of an LLC’s accounting period. [read post]
25 Oct 2023, 10:04 pm by Cari Rincker
In addition, investors could be taxed in every state where the LLC does business. [read post]
2 Aug 2021, 1:55 pm by BPR Law
If a one-member LLC did not have any business activity and does not have any expenses to deduct, the member does not have to file Schedule C to report the LLC’s income. [read post]
31 Aug 2018, 10:37 am by IncNow
A single member LLC does not need any additional return other than the owner’s IRS Form 1040. [read post]
10 Sep 2016, 8:35 am by Michael Smith
Although I believe that is commonly the way series LLCs are set up, I think it may be possible to set up a series LLC so that the master LLC does, in fact, hold part or all of the interest in its series. [read post]