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13 Jan 2022, 7:46 am
Coming back to the opening question of an LLC or an S-corporation, so long as the individuals forming the LLC are eligible shareholders described above, the LLC can make the election treated as an S-corporation. [read post]
13 Jan 2022, 7:46 am
Coming back to the opening question of an LLC or an S-corporation, so long as the individuals forming the LLC are eligible shareholders described above, the LLC can make the election treated as an S-corporation. [read post]
18 Sep 2019, 9:01 am
Causing an LLC to make one of the two tax elections means the LLC will need to file an 1120 or 1120-S US Corporation Income Tax Return. [read post]
4 Feb 2020, 12:21 pm
The LLC’s Operating Agreement sets forth the Management of an LLC. [read post]
2 Aug 2012, 12:18 pm
Therefore, any judgment awarded to the plaintiff must be collected solely from the LLC's assets. [read post]
20 Sep 2022, 2:07 pm
This means that changes to an LLC’s ownership structure can be made privately without requiring any state filings. [read post]
14 Sep 2018, 1:50 pm
Who are the LLC Managers The LLC’s Operating Agreement sets forth the Management of an LLC. [read post]
27 Jan 2020, 3:58 am
According to the LLC’s complaint, following completion of the development phase the project’s leasing efforts fell short creating serious financial challenges. [read post]
11 Jul 2018, 1:30 pm
But what does it mean to be a “creature of contract”? [read post]
25 Oct 2023, 10:04 pm
That does not necessarily mean, however, that it is the best entity choice for every business. [read post]
2 Feb 2022, 1:37 pm
Thus, for partnerships and LLCs, each partner or LLC member owns a share of the business, as determined by the company’s partnership or LLC operating agreement, and they are taxed on their share of the partnership’s or LLC’s While you are not taxed again on any owner’s draw you make from the partnership or LLC, you do have to pay self-employment tax on a draw. [read post]
21 May 2023, 9:05 pm
This means that your LLC is no longer recognized as a legal entity, and you lose the protections that come with being an LLC. [read post]
2 Sep 2010, 2:31 pm
This brief overview of some important considerations associated with LLC operating agreements is by no means comprehensive. [read post]
25 Jul 2007, 6:40 am
Interest in the format is high, he said.The benefits of an LLC seem almost too good to be true.The owners, or members, have the personal liability protection that shareholders of a corporation do, with far less paperwork and fewer regulations.That means â€â [read post]
13 Sep 2021, 2:00 pm
An LLC’s purpose usually is any purpose authorized by law. [read post]
14 Feb 2022, 8:15 am
This means your LLC might need to apply for an EIN. [read post]
16 May 2023, 9:05 pm
In North Carolina, it’s challenging to pierce the corporate veil, which means it’s difficult for someone to sue you individually for something that happened in your business. [read post]
13 May 2022, 4:44 am
Being an LLC manager means having the legal authority to bind the company to contracts and agreements and participate in day-to-day management. [read post]
17 May 2022, 4:30 am
Even if your LLC is a single-member LLC (meaning you’re the only member), it’s handy to have an operating agreement. [read post]
18 Sep 2021, 1:43 pm
This means that judgments and other losses against the LLC cannot be satisfied with the LLC member’s personal assets. [read post]
