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But the issue is our LLC is deadlocked - with each member owning 50%. How can we remove him from the LLC?
If this happens, what happens to his investment in the LLC? Does the other member try to buyout the share?
The same member is also alleging breach of fiduciary duty against me.
The reason is that he is alleging that I didn't provide the partnership tax returns on time. I did provide the K1s on time but forgot to send the partnership returns on time. Does this constitute a breach of fiduciary duty?
Yes. It didn't cause any harm to the company. But he says that the tax returns prepared by our CPA were incorrect and since I signed the return, I am responsible for the errors. Since we have already amended the tax returns, does this still constitute a breach of fiduciary duty?
Does this change if the margin of error was large and that I didn't review the return before signing?
When you say accountant, do you mean the CPA who prepared the original returns? My partner claims that I should know that there are errors?
Actually the returns were amended by another CPA.
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