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Should An LLC Have Manager(s) or Member(s)
In a manager-managed LLC the members will not have a say in ordinary business decisions. In a member-managed LLC the members are responsible for the day-to-day operations.
Foreign LLC vs Domestic LLC
Foreign qualification is when a legal entity conducts business in a state or jurisdiction other than the one it was originally formed within; often used for entities previously registered in another state and wishing to conduct business within a new ...
Double Taxation with Corporation (C-Corp) vs LLC
Double taxation for a corporation is only valid if one does not redeem in lawful money. The benefit of having a corporation vs an LLC is the corporation DOES NOT pass through any liability; whereas, an LLC will pass through liability, thus it is ...
What Kind of Tax Return Does One File with LLC, Corporation or Trust
IF IT IS PERSONAL: A Form 1040 is used to report any personal income (consult a CPA to learn which form is right for the situation). One may not need to file for their person if they did any of the following: Redeemed in lawful money all year As an ...
Can An LLC Be Converted Into A Corporation
Yes. Most states allow LLCs to be converted to a corporation by the simple filing of documents with the state, these documents essential merge the two entities into one. At the time of the conversion the LLC by operation of law becomes a corporation ...