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9 Nov 2012, 6:03 am by Catherine M. Clayton
On Wednesday, the Supreme Court heard oral argument in the case of Already, LLC d/b/a Yums v. [read post]
17 Jul 2008, 4:56 pm
For example, assume that company A owns a piece of property worth $300,000.00 (Building A) and Company B owns property worth $1,000,000.00 (Building B) and both Company A and B are owned by Company C (the parent company). [read post]
24 Jan 2022, 2:46 am by Peter J. Sluka
” By my count, this phrase and its close relative, “unless otherwise provided in the operating agreement,” appear 59 times in New York’s LLC Law, most often to qualify a rule on LLC governance. [read post]
20 Nov 2017, 2:13 am by Peter Mahler
The Statutes In New York, LLC Law § 1102 (b) gives “any member” the right to “inspect and copy at his or her own expense, for any purpose reasonably related to the  member’s interest as a member,” the LLC’s organizational documents including operating agreements, lists of managers and members specifying profit interests, the last three years of tax returns and financial statements,… [read post]
27 Mar 2007, 1:23 pm
  The case, Stoneridge Investment Partners LLC v. [read post]
31 Jan 2012, 1:12 pm by gavin.n.johnson
Without going into significant detail, here are the basic limitations: (a) that allocations of profits and losses may have significant tax consequences, and (b) that the IRS limits the flexibility of allocating profits and losses if the purpose is solely for limiting tax liability. [read post]
29 Jun 2023, 8:12 am by Joshua Lloyd
In the case, a civil engineering firm sought to pierce the veil of an Illinois LLC to hold the members of the LLC personally liable for a money judgment that the engineering firm had won against the company. [read post]