no, both c corps want to be a member of the new LLC.
I don't understand your statement right after a C Corp may be a member of an LLC etc. The part from" There could be tax consequences etc to this is not the situation you describe" Please explain and expand answer.
thanks for the the additional information. In our situation my brother and I own all the stock of our corporation. The people we want to join with in the new LLC are two brothers that own all the stock in their corporation.The property to be transferred to the new LLC partnership will be contributed equally on a 50/50 basis. Does this situation avoid taxation on the transfer to the new LLC?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).