Questions tagged [limited-liability-company]

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Can a company make an ethical commitment to customers that survives even when it's sold?

TL;DR: Suppose a company has made a specific ethical commitment to its customers. When selling that company, is it possible for the seller to prevent the buyer from reneging on or dropping that ...
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120 views

Employee Stock Ownership as long as Employee Stays in the Company, What Kind of Nonsense is This?

Recently a friend of mine has received a stock buy offer from its company. The company offered to sell a specific amount of the company shares with a nice discount rate, because he was in a critical ...
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17 views

Legal Competency of a Minor For Arizona LLC

In Arizona, United States, can a minor, as a member (perhaps, sole member) of a Limited Liability Compancy (LLC), enter into a legal binding agreement on behalf of the company? Arizona appears to ...
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1answer
25 views

Do you loose liability protection if doing work for your LLC on your personal computer?

Do you have potential of loosing liability protection if doing work for your LLC on your personal computer (ie. a computer purchased with personal funds and not accounted for as being owned by the LLC)...
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48 views

Can an LLC make a DBA that ends in “LLC” or “Co” in California?

As the title states, I'm interested in making a DBA for an LLC that gives some indication that it's a company rather than an sole proprietorship DBA. Can the DBA terminate in "LLC" or "Co"? Most ...
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1answer
46 views

What does upon conversion mean?

What does it mean when an investor say "I will give you $100k in exchange for 10% equity upon conversion"? What does upon conversion exactly mean in layman's terms?
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1answer
37 views

What happens to past legal liabilities after changing from self-employed to a limited liability company?

If a self-employed worker takes on contract jobs and then later on, after finishing any of those jobs, changes their business into a limited liability company, Who is responsible for any liabilities ...
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1answer
42 views

Company holding own shares in trust

If the assets of a trust includes shares in a company, can that company be appointed as trustee of that trust? It's not clear to me how section 259A of the Corporations Law works in this situation.
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22 views

What happens if a LLC Member fills out the LLC license with Malicious intent in the state of Mississippi

If There are 2 members of a LLC and a verbal agreement in which one Partner has 65% of the company and the other Partner had 35% of the company but the Partner with 35% of the company set up the LLC ...
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3answers
59 views

How does a flow-through LLC own assets?

A Limited Liability Company (LLC) is a business under US law with the following characteristics: Establishes a "corporate veil" of limited liability, such that creditors or lawsuits can only go after ...
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40 views

Sales tax nexus in Illinois for a “startup”?

I had a question around whether I would fall into sales tax nexus in Illinois. I have read through Illinois’ Revenue and tax information(https://www2.illinois.gov/rev/Businesses/Pages/default.aspx) ...
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1answer
33 views

How to draft LLC resolutions?

I'm starting an LLC and I'm having trouble understanding the concept of resolutions. It seems pretty simple, but I'm afraid of getting it wrong. I have a lot of experience working with bylaws in ...
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1answer
50 views

How to act in name of company rather than natural person by e-mail etc?

It makes a difference for tax and liability reasons if an action is done by a natural person vs a legal entity. How to make sure that actions are ascribed to the legal entity rather than one's ...
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1answer
39 views

How can I check a UK company's public documents?

I am interested in the articles of association and shareholder's agreement of a UK company. Where can I find them?
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45 views

Can OSHA fine the owner and sole worker of a LLC

Let's say a person owns a Limited Liability Company and he is the only worker for the same. He hires out to a construction worker and is on the job without his hardhat. OSHA shows up and promptly ...
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1answer
26 views

What are the implications of US LLC state and foreign entities?

Let's say I'm a confetti enthusiast. Confetti for parties, confetti for halloween decorations, confetti for everything. In this hypothetical example, I want to sell confetti online, and in person when ...