In California, how do I customize my LLC for real estate? In the articles or the operating agreement or both?
Addison's answer
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Answered on February 05, 2022
You don't customize the LLC for real estate. Use the CA form for the articles and don't change the purpose in any way, don't add, don't modify,...
We are a S corp with 2 equal shareholders selling a commercial building. Can we split our Scorp in escrow via quit claim deed?
Addison's answer
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Answered on December 11, 2021
No you can't. But you can take the money in at the S corp level, distribute it 50/50 to the two of you personally, and then one of you can keep...
How can I start an LLC selling CBD products?
Addison's answer
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Answered on September 14, 2021
If you are trying to do this on your own, you can go to the California Secretary of State website and form an LLC online. You can also file the...
Would it be possible to reopen a s-Corp I had 3 years ago using the same name it had?
Addison's answer
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Answered on September 06, 2021
Yes no problem. Check the SOS for name availability. When you form the corp you will want to contribute all the assets of the partnership so that...
Forming an LLC in California, can I use a virtual or "UPS-business-mailbox" type address? For both business and mailing address?
Addison's answer
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Answered on September 05, 2021
It is an interesting question with multiple answers as many people run a WFH business and prefer to keep their home address non-public. The short...
I have a 50/50 partner in a LLC in California who has changed all passwords to company accounts. What can I do to regain access?
Addison's answer
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Answered on August 29, 2021
California allows a 50% owner to dissolve an LLC without permission of the other owner. That will have the effect of terminating the LLC, which...
How do I remove an individual from my business?
Addison's answer
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Answered on August 28, 2021
Ownership of a business is controlled by the paperwork signed at the company level, not by any filings made with the secretary of state. You...
Where can I verify a business?
Addison's answer
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Answered on August 17, 2021
For California businesses that are a corporation, an LLC or an LP, you can go to this website and search for the name of the business: ...
Can a single member LLC file as manager - managed with the single member as manager?
Addison's answer
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Answered on July 31, 2021
Yes, no problem at all. The articles of organization in California describe the LLC as member managed or manager managed. When there is only a...
Is this transaction viable? How best to do it?
Addison's answer
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Answered on July 29, 2021
It seems the best way to structure this is as a sale from the owner to the User with broker fees of $1m. One sale agreement with all the fees...
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