In a LLC how do the pass though taxes work ?

Anne's answer is excellent. A short post script specific to the reporting side: Because the LLC is set up to be taxed as a pass-through entity...

2nd request:: Co. A has LLC in TX in the oil business.Co. A then sets up a forgien LLC in the state of New Mex.

Can entities be formed in different jurisdictions to accomplish the purpose of transferring or hiding assets or tax avoidance? Sure, however, you...

I signed a commercial lease agreement on my building the lessee has first right of refusal does that mean I have to sell

It really depends on how your agreement is drafted. A right of first refusal typically applies when you want to sell and not an independent right...

Do I need an attorney for my business idea?

Any time you are dealing with business, having a competent and experienced business attorney assisting you can be one of your most valuable...

In a General Partnership, ALL partners are general partners. In a Limited Partnership, some partners can be "general" partners (managerial...

Want to start my own office cleaning business, am I required to be bonded and have business liability insurance ?

Obtaining insurance and bonding would be wise, even without employees, as both products should do two things: (1) protect you if something happens...

Mother passed on 7/30/2013. Life Insurance expired. New company wrote new policy but is paying beneficaries from expired policy.

Recommend you consult with an insurance or elder law attorney to see what you might be able to do. Good luck.

Can I sue for damages if a person records my phone conversation across state lines for commercial purposes?

Some states require two-party consent to taping a telephone conversation. Two party consent means that every party to the conversation must have...

How do I go about appealing ruling on guardianship of my two sons with their paternal grandmother...father was murdered

You need to file an appropriate motion in the probate court that has jurisdiction. You should contact an experienced probate or guardianship...

How do I get guardianship of my 16yr old sister who lives in Florida and I am a military member stationed in California.

You can probably meet with a JAG attorney stationed on base for assistance. The question is how long will you be caring for your sister. If...