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Daniel Kokhba
Daniel Kokhba,
Category: Business Law
Satisfied Customers: 1739
Experience:  Partner at Kantor Davidoff
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Business & Accounting law: CA LLC business has been

Customer Question

Business & Accounting law: CA LLC business has been recommended by their Merchant bank that since we process client revenue for conference fees under contract and the transactions are depositing into the LLC's own designated "trust account" for account purposes and the merchant account and revenue are reported under the businesses own tax ID as pass-through revenue, that a separate entity & tax ID should be established for this purpose only and we are advised that this reduces the liability risk of the original LLC. Is this recommended or have an advantage?
Submitted: 1 year ago.
Category: Business Law
Expert:  Attorney2020 replied 1 year ago.

Please allow me to do some brief research before I respond. Thank you.