When purchasing an existing LLC, am I buying their lease agreement...and do I get their deposit...or should I do a new lease?

If you structure the purchase as a purchase of the membership interests of the LLC, all contract rights of the LLC should stay in place but you...

Requesting an S-corp status for an LLC, is it the same as making a 'subchapter-S election' for the LLC? I'm confused.

Yes, you must simply timely file the form 2553. There is no need to also file the election for the LLC to be treated as an association through form...

Paid referrals

Many software companies have referral programs. I am not aware of any prohibition on graduating the percentage commissions.

Assuming the person running the LLC is the same as the single member, it really does not matter whether you characterize that person as the...

Should I form a professional llc or not?

There is no benefit to forming as a PLLC. For those professions that cannot limit their personal liability for their own services and subordinates,...

Can a Trustee use funds from a irrevocable Trust to pay for legal advice concerning the accounting of a different trust?

Agreed that there could be trustee liability for not timely filing the QSST election and any related Sub S inadvertent termination. However, you...

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Failing to renew corporate status is not necessarily equivalent to going out of business. While a penalty fee is applied, it is possible to...

Non party subpoena duces tecum for documentation for a florida LLC multi member LLC

This is likely a fishing expedition. Having said that, your operating agreement or other agreements with your members/former members may have...

American Express Charge back from customer.

Just because he lives in a multi million dollar home does not necessarily mean he is collectible in a lawsuit, but it is a good indication. While I...

I am buying the assets of a fitness center. The broker has given me a P&S form to use. What should a lawyer charge me to review

The P&S agreement is important but is only one issue. Your remedies for a breach are in many cases only as good as the creditworthiness and...