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Recent Limited Partnership questions

I am starting an LLC with a 50/50 partner. We will choose a

I am starting an LLC with a 50/50 partner. We will choose a Limited Partnership and will form an LLC to act as the General Partner. We both will own the GP LLC in a 50/50 ownership as well.If for some reason one of us wants to get out of the business in the future, what options do we need to consider in arranging a separation that doesn't kill the business? Do you have any template approaches for when partner leaves and starts up a similar company that we have in 50/50 partnership?Please advise.Thanks!

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Richard - Bizlaw

Juris Doctor

9,818 satisfied customers
How should I describe my passive role in a limited

How should I describe my passive role in a limited partnership? My mortgage modifications counseled has all of my tax records and K1s. A long time ago my cousin needed a partner to put on a a limited partnership app. Of course I said yes. I occasionally get or pay a hundred. Usually its nothing. How can I explain this to mortage modification team?Thanks,Kala

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Richard - Bizlaw

Juris Doctor

9,818 satisfied customers
In terms of liability (not tax). What are the differences

Hi ,In terms of liability (not tax) . What are the differences between LLC, LLC and PC. In my specific example there are two partners/members/shareholders.For example: issues such as liability for the other partners, type of protection (debt, mal practice , neglagece), etc.

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DrakeLAW

Juris Doctorate

642 satisfied customers
Am I going to be charged questions? I have a nonprofit

Am I going to be charged for the questions?I have a nonprofit science workshop running for the last 10 years. I charge the students to cover the materials and the space a pay the teachers help. The income is below 50000.Expenses are higher . I substitute some money'sNow I am into 74 years getting tired. The program is useful for kids ranging from 1-12.Some commercial people are asking me to have a partnership with themWhat does it mean.?should I proceed or not.reasons to proceed is if some money's come from partnerships ,I can hire a manager to continue the science workshop.My workshop web is www. Irvingartofscience.org

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Asad Rahman

Attorney

J.D.

3,192 satisfied customers
Dwayne, You have helped me before. I am the inventor of a

Hello Dwayne, You have helped me before. I am the inventor of a new disposable bread bag closing device. My question today is:My business is an LLC, which was formed in Minnesota, but I have relocated to Connecticut. I have read online about the options to move my LLC to a new state, but I am not sure which is best. My company is still in start up phase and I have not done any sales yet. Would it be better to dissolve my current LLC and establish a new one in CT? If I follow this route, would it be wise to consider establishing another type of entity? I have thought that an S-Corporation would be wise in order to avoid double taxation and also because I want my wife to have shares, and perhaps have other partners in the future.

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Dwayne B.

Juris Doctor

35,768 satisfied customers
Good morning, are you really there? JA: No. I'm the

Good morning, are you really there?JA: No. I'm the Accountant's Assistant.Customer: a computer then?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I want to trade as a hobby, what is the best approach? An LLC?JA: Is there anything else important you think the Accountant should know?Customer: I live in TexasJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

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Christopher B, Esq.

Attorney

Juris Doctor

5,350 satisfied customers
Myself and two other partners are planning on starting

Hi,Myself and two other partners are planning on starting a business in the US (an online business). The three of us are not located in the US but we have someone who lives there who will be running the show in that region.Our headquarters are in the UK and I would like to know which company type would work for us as we do not want any of the partners to have to physically go to the US. We want the person we are employing in the US to do all the work and establish the company and opening our bank account. That employee will have the power of attorney as well.But he will not be a shareholder but rather the general manager or director of the US branch.Which company type would work best for us?LLCsLimited partnershipLimited Liability PartnershipThank you

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CalAttorney2

Attorney

Doctoral Degree

20,220 satisfied customers
I am starting a new business and I am unsure what I should

I am starting a new business and I am unsure what I should become..I am a sole proprietor now, we want to become a LLC .Can you help me with the process? And is an LLC what I should become?We are opening a mobile bike shop which will someday be a brick and mortar bike shop.I want to be sure what I should become and how to do it.Thanks

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Richard

Owner

Doctoral Degree

47,072 satisfied customers
What are the timelines of a Complaint to an individual and

What are the timelines for delivery of a Complaint to an individual and Corporation according to the Colorado Rules of Civil Procedure? I am asking because in one place it states 20 days for a corporation to be served and then another place it states 60 days for an employee or agency... "For Richard-Bizlaw only"

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Richard - Bizlaw

Juris Doctor

9,818 satisfied customers
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