Business Law

Ask a business lLawyer. Get business law questions answered ASAP.

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

If an LLC is established as XYZ LLC and they would like to…

If an LLC is established...
If an LLC is established as XYZ LLC and they would like to set up a non-for profit Corporation under it. How should they proceed? If the NPLC is dissolved, what happens to the assets? Can he NPLC be changes to a for-profit later? Can a separate name be set up for a company under the LLC?
Show More
Show Less
Ask Your Own Business Law Question
Answered in 4 minutes by:
12/2/2017
Infolawyer
Infolawyer, Attorney
Category: Business Law
Satisfied Customers: 61,639
Experience: Experienced lawyer
Verified
The not for profit cannot be under an LLC. It has to be separate and apart and unrelated to a for profit entity.
Ask Your Own Business Law Question
Please let me know if the reply is acceptable by responding “yes” or “acceptable”
Ask Your Own Business Law Question
Customer reply replied 5 months ago
Could you please answer the later questions?
If dissolved the assets would normally pass to another notfor profit as provided when formed.
Ask Your Own Business Law Question
Not for profit cannot be changed for profit or have assets go to for profit purposes.
Ask Your Own Business Law Question
Each entity would have separate name.
Ask Your Own Business Law Question
Please let me know if the reply is acceptable by responding “yes” or “acceptable”
Ask Your Own Business Law Question
Awaiting your reply, thank you!
Ask Your Own Business Law Question
Please select the 5 star (*****) rating on your page for the answer. Happy Holidays!
Infolawyer
Infolawyer, Attorney
Category: Business Law
Satisfied Customers: 61,639
Experience: Experienced lawyer
Verified
Infolawyer and 87 other Business Law Specialists are ready to help you
Ask your own question now
Was this answer helpful?
Ask Infolawyer Your Own Question
Infolawyer
Infolawyer
Infolawyer, Attorney
Category: Business Law
Satisfied Customers: 61,639
61,639 Satisfied Customers
Experience: Experienced lawyer

Infolawyer is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Attorney

61,639 satisfied customers

Experienced lawyer

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

1,611 satisfied customers

Run my own successful business/contract law practice.

MShore Law

MShore Law

Attorney

1,233 satisfied customers

Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

RGMacEsq

RGMacEsq

Attorney

751 satisfied customers

Licensed Texas General Practice Attorney

Barrister

Barrister

Attorney

646 satisfied customers

17 years practicing attorney, JD, BA, MBA

Ely

Ely

Attorney

577 satisfied customers

Counselor at Law.

J.Hazelbaker

J.Hazelbaker

Attorney

393 satisfied customers

Experienced and trained in the area of business law.

< Previous | Next >

Related Business Law Questions
Made to look that the store was much profitable than it
made to look that the store was much profitable than it really is. This business is a pretzel factory retail store where we make, bake and sell hot soft pretzels in the Philadelpha Pa area … read more
Attorney Wendy
Attorney Wendy
Member
Juris Doctorate
732 satisfied customers
I founded a not for profit with 4 members; One is on leave
I founded a not for profit with 4 members; One is on leave and the other can't make meetings. Can a quorum consist of two in Florida. I know that Florida law states you need 3 board of directors, whic… read more
Damien Bosco
Damien Bosco
Attorney
Doctoral Degree
4,517 satisfied customers
I need information on non profits in California and
I need information on non profits in California and violation of by laws … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Is it fradulent to open up a bank account for a non profit
Is it fradulent to open up a bank account for a non profit under a name that is different than the name the same non profit files its taxes under with the IRS? For example, the name on the bank accoun… read more
Shawn P. Adamo
Shawn P. Adamo
CEO
Bachelor's Degree
18 satisfied customers
The Board of a non-profit organization adopted a rotating
The Board of a non-profit organization adopted a rotating chairing practice (5 months) in order to give every board member a chance to be involved with the running of the organization and avoid that t… read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
36,556 satisfied customers
In a non-profit organizations, decisions are made by the
In a non-profit organizations, decisions are made by the Board based on consensus. What is unethical about the behaviour of a member using desinformation and naming, blaiming and shaming techniques in… read more
Infolawyer
Infolawyer
Attorney
61,639 satisfied customers
The Board of a non-profit organization adopted a rotating
The Board of a non-profit organization adopted a rotating chairing practice (5 months) in order to give every board member a chance to be involved with the running of the organization and avoid that t… read more
Attorney Wendy
Attorney Wendy
Member
Juris Doctorate
732 satisfied customers
I am a member of a not for profit corporation in Oregon.
I am a member of a not for profit corporation in Oregon. Namely the Rogue Valley Growers and Crafters Market. Does the board of directors have a right to confidentiality with regard to members written… read more
Damien Bosco
Damien Bosco
Attorney
Doctoral Degree
4,517 satisfied customers
I set up an LLC in 2005. There was minimal profit in the
Hi, I set up an LLC in 2005. There was minimal profit in the first two years. I paid new york taxes state taxes on this. Since the n the business was not active. I filed for articles of dissolution at… read more
KLAW
KLAW
Juris Doctorate
2,110 satisfied customers
Question about not-for-profit in Ohio. Gave Gift to Building
Question about not-for-profit in Ohio.Gave Gift to Building Fund for new religious building. Found out the Organization let its Articles of Incorporation lapse for over two years. Gift was given durin… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Looking for a non profit lawyer for a church in Freeville NY
Looking for a non profit lawyer for a church in Freeville NY which is near Ithaca and or Cortland NY. … read more
Michael Bradley
Michael Bradley
JD
1,371 satisfied customers
I am on the board of a non-profit incorporated in Kansas and
I am on the board of a non-profit incorporated in Kansas and I need to make a request in front of a Kansas Judge under KSA 17-6505 (d) If the election of the governing body of any nonstock corporation… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
My business was labeled as a non profit in the state of but
my business was labeled as a non profit in the state of washington but as a for profit for the ein how do i change the washington to a for profit… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Are there any advantages to setting up a Non Profit LLC to
Are there any advantages to setting up a Non Profit LLC to furnish Auspices services to individuals instead of a for profit LLC?… read more
Infolawyer
Infolawyer
Attorney
61,639 satisfied customers
What must a California Non-Profit Public Benefit Corporation
What must a California Non-Profit Public Benefit Corporation do to get a Court fee waiver to file a Civil law suit in Los Angeles California?… read more
N Cal Atty
N Cal Atty
Doctoral Degree
59 satisfied customers
Can a for profit owns a non- profit division? Hawaii Oahu,
Hawaii Oahu, but not active yet. I looking into it now? … read more
Damien Bosco
Damien Bosco
Attorney
Doctoral Degree
4,517 satisfied customers
I already formed a not for profit corporation in New York
I already formed a not for profit corporation in New York under the name of Gateway Classical Music Society of New York. I would also like to do business as the New York Grand Opera or New York Grand … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
11,278 satisfied customers
Lawyer that specialize in Non-profit corporation law,
This is for a lawyer that specialize in Non-profit corporation law, Question; Our organization is exempt under section 501 (c)(3) of the Internal Revenue Code. And we are also classified as a “Public … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers

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).

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).

Show MoreShow Less

Ask Your Question

x