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Can minors create an LLC business in NJ How?
no, every person that make an LLC must be 18 years of age.
If you have an LLC and file chapter 7 can they take your part of the LLC?
== == The answer to your question depends upon the law in your state. If an individual files for bankruptcy most assets of the individual may be sold or otherwise disposed of in a Chapter 7 bankruptcy in to partially satisfy the debts of the individual. While an interest in an LLC is an asset of the individual, many states have statutes within their LLC Act which provide that an LLC interest may not be taken outright by a creditor, but rather a charging order will be issued. Typically this means that the individual who is the holder of the LLC interest will continue to be a member of the LLC and will continue to vote the LLC interest; however, any distributions which are made by the LLC to the individual would be paid to the creditor or creditors rather than to the individual due to the charging order.
What is a managing partner in an LLC?
A managing member in an LLC is a person who holds an ownership interest the company. However, that person also is active in the day to day management of the company.
What is the second person in charge of an LLC company called?
COO
Do you have personal liability with an LLC?
Generally, the members and managers of a limited liability company have no personal liability for the obligations incurred by the LLC. For example, if the LLC buys goods or services on credit and goes out of business, the members are not obligated to pay the creditors. There are many many ways, however, that personal liability can arise out of a person's participation in an LLC. Some of these include: * The person's own negligence, fraud or illegal act * Personal guarantees * "Piercing the veil" of the LLC
Where can someone find information about how to form an LLC?
A person can find out how to form an LLC in many ways. There are guides and resources for learning about LLC's and how to start one. Some informative places are Nolo, WSJ, Legal Zoom and Corpnet.
Which is correct LLC or LLC?
LLC
Do managing members of an llc get a paycheck?
I am 1/3 owner of an LLC. Besides an owners draw or payout can I receive a paycheck if I perform duties such as cooking, bartending, waiting tables, hosting? I was told that in the state of Florida that I am not allowed to
If you have an LLC in another state and relocate to Florida do you need to form another LLC in Florida?
No. My father is applying for a LLC from Nevada (they have the best laws for this type of company - one person can control everything), it is legal. ANSWER: No, an LLC formed in another state can operate in Florida if it registers as a foreign LLC in Florida. However, if the LLC no longer operating in its original state, you may find that filing annual reports and paying fees is both states is an unnecessary burden. You may want to consider reforming the entity as a Florida LLC.
Can your single member real estate llc rent to your single member business llc?
Yes. Although a single member LLC is a "disregarded entity" for tax purposes, in other respects it is treated as any other LLC. The fact that one person owns the membership interests in both LLCs does not prevent them from forming an agreement that is valid between them.
What does the LLC stand for in Indiana LLC?
The LLC in Indiana LLC stands for "Limited Liability Company". LLC companies blend corporate structure with partnership qualities.
Can a LLC invest in its parent LLC?
Yes, a LLC, that is, a LLC that is member of a LLC, could theoretically make a distribution to its parent LLC. Although, where member(s) of the LLC that is a member of the "parent" LLC are also member(s) of the parent LLC violate certain imputed fiduciary duties, the potential arises for unlawful self-dealing to occur.
