I am purchasing a business from my sister. She is a 90%
I am purchasing a business from my sister. She is a 90% interest owner. My brother is a 10% interest owner. The company is an LLC. All is going good with the exception that my brother, who is a 10% owner, is not willing to sign an operating agreement so that we may work under clear rules. I, on the other hand, do not want to enter into a business without a signed operating agreement.My sister is the managing partner and the majority interest holder. Given that I'm purchasing her shares and will become the majority owner, can I assign myself as the managing member (in her place) and introduce an operating agreement although he is not willing to sign? Or, can the existing operating between them be transferred to me without his signature?If not, can she sell me his 10% interest in the LLC without his signature? The original operating agreement that is signed by both gives her full authority to sell all assets or the entire company.I do not want to create a headache for myself. If he's not willing to sign neither, what options do I have?Thanks.
A few years ago, my brother purchased a business. A year
Hello,A few years ago, my brother purchased a business. A year ago, he realized he was unable to properly run the business and as a result, he sold it to my sister for a price of simply assuming payment for a note that he owes. He sold her 90% interest in an LLC (she became the managing partner). They signed an assumption agreement, operating agreement and asset purchase agreement.My sister is now pregnant and is unable to run the business. I decided to take it over for the same deal (assuming liability for the note that my brother owes) as well as payment for expenses she incurred, which were around $10k.In all honesty, I trust my sister, but not my brother very much. My sister and I plan on signing an asset purchase agreement and bill of sale and simply notarizing it (which is what she did with my brother). There are no limitations as to who she can and cannot sell to. Is there anything else I can do to protect my interests? Can my brother later come and claim that he sold my sister and she assumed the note and as a result, I am not entitled to ownership even though the transaction occurred?Moreover, if she is selling, do my brother and I have to sign a new operating agreement or is that not necessary? Remember, he owns 10%. Although she has the right to sell the entire business, we are doubtful that he will sign or will be willing to sell his 10%. We're expecting a little noise and are trying to make this an easy transaction without all of the hassle.Thanks.
I created an LLC in Ohio in 2011, which is the state I have
I created an LLC in Ohio in 2011, which is the state I have lived in until I moved to Washington state this month. I am a single-member LLC and therefore have always been taxed as a sole proprietorship. My business is online and therefore I do very little business with OH or WA residents.Is it legally necessary for me to redomesticate my LLC in WA for any legal reason? Do I need to anything at all with my LLC now that I live in WA? I would like to avoid the expensive filing fees associated with redomestication as well as the time involved.
I am in the process of opening a business and I have a
I am in the process of opening a business and I have a question about the naming of it. The name I chose is Bayou City Daiquiris and I thought I did my necessary research on it before I purchased a DBA as sole proprietorship. After conducting a few more searches on the business, I know see that a LLC was formed on 3/16/2016 as Bayou City Daiquiris LLC, but they did not trademark the name or get a DBA for it. They have actually done nothing else with establishing the business. I wanted to know if I trademark the name will I still be in harms way in the future if they decided they want to use that name for a future business? Can I form an LLC under a different name and just list that DBA as a business under it. I really need to know what to do before I go to and apply for a liquor license this week. I need to know if a trademark will have more authority than a business name that has LLC in the title.
I am a non resident alien who just incorporated a WY LLC as
I am a non resident alien who just incorporated a WY LLC as a disregard entity, sole proprietorship.I have obtained a EIN for my LLC from the IRS.Now I need to open a business account in a US bank but I have dual information. One person told me that I need an ITIN to open this account while another tells me I don't need it because I am a non resident alien.I need clarification on this. To open a business account in a US Bank fora LLC do I need to have an ITIN or the EIN is enough?
I have a LLC company that doing business internationally.
I have a LLC company that doing business internationally. When I but some products from China, can I send my money and buy from him when he is personal entity (Not a business)in China that he bought the products with his bank account.
Just setup a LLC in WY and received my EIN from the IRS. My
Just setup a LLC in WY and received my EIN from the IRS.My LLC is a sole proprietorship, disregard entity and I am a alien non resident in the United States.I need to open a bank account for this company, my question is can I do this without going to the US in person? Any company or lawyer can offer this service?Thank you.
Two friend and me want to start an LLC. we want to sign
hello, two friend and me want to start an LLC. we want to sign contracts with customers, but do not want to be LLC employees. we would like to stay independent contractors for the LLC. we would like some help to set this up. kind regards
I received a VERIFICATION OF EARNINGS request from
I received a VERIFICATION OF EARNINGS request from Department of Human services for one of my CONTRACTORS now on the form it has his name and his SSN but with my company he is contracted as an LLC which had its own FEIN , how do i respond to that request