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If you are personally sued but a member of an LLC can they collect from the LLC?
Wiki User
∙ 11y ago
Yes, but if it was reverse they wouldn't be able to coma after you personally.
Wiki User
∙ 11y ago
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Is an llc member liable for llc debt in Colorado?
In Colorado, an LLC member's liability for the LLC's debts is generally limited to the amount of their investment in the LLC, unless they personally guarantee the debt or engage in wrongful or fraudulent acts. Members are not usually personally liable for the LLC's debts in Colorado.
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.
Can a member of LLC be a minor?
no
Can a minor be a member of a LLC?
no
Where can one find information regarding a single member llc?
A single-member LLC is a liability company with only one member. One can find information on a single-member LLC including tax information and forms at the IRS official website.
Who signs w-9 when it is an llc?
The Business Owner if single-member llc, Accountant.
Can a family trust be a member of an llc?
yes
Can sole member of LLC filing as an S Corp draw SS at 65?
As long as they are eligible to collect Social Security they may do so. It makes no difference what their corporate or business positions or titles are.
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.
Can a partnership be a member in a S-Corp?
Members of a partnership. First member is sole owner llc, 2nd member is an S-Corp owned by the same person that owns the llc. Will this meet the requirements of a partnership?
Why should you form an LLC?
Most business people form an LLC to protect themselves from any debts or judgments against the business so that they do not interfere personally.
What are the pros n cons in holding property in a llc versus holding a property in a trust?
The best way to do this is to form an LLC with the trust as the sole member of the LLC, this creates a layer of liability protection for the trust.
