User Panel
User Panel
User Panel
TX, USA
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Posted: 4/25/2023 9:56:15 PM EDT
Title says it.
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FL, USA
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Posted: 4/26/2023 10:36:59 AM EDT
[#1]
LOL - CHATgpt says: (and might be making this up but seems plausible)
an asset sale from the sole proprietorships to the LLC can be a simpler way to transfer ownership of the businesses to the new entity. In an asset sale, the sole proprietorships sell their assets, such as equipment, inventory, and goodwill, to the LLC. The LLC can then operate the businesses using these assets without assuming the liabilities of the sole proprietorships. However, even in an asset sale, it's important to consult with a business attorney or tax professional to ensure that the transfer is done correctly and that any potential legal or tax issues are addressed. For example, you may need to obtain specific licenses and permits for the LLC to operate the businesses using the assets acquired in the asset sale, and you may need to address any outstanding debts or tax obligations of the sole proprietorships. Overall, an asset sale can be a simpler way to transfer ownership of the businesses to the LLC, but it's important to ensure that all legal and tax requirements are met to avoid any potential issues down the line. an asset sale from the sole proprietorships to the LLC can be a simpler way to transfer ownership of the businesses to the new entity. In an asset sale, the sole proprietorships sell their assets, such as equipment, inventory, and goodwill, to the LLC. The LLC can then operate the businesses using these assets without assuming the liabilities of the sole proprietorships. However, even in an asset sale, it's important to consult with a business attorney or tax professional to ensure that the transfer is done correctly and that any potential legal or tax issues are addressed. For example, you may need to obtain specific licenses and permits for the LLC to operate the businesses using the assets acquired in the asset sale, and you may need to address any outstanding debts or tax obligations of the sole proprietorships. Overall, an asset sale can be a simpler way to transfer ownership of the businesses to the LLC, but it's important to ensure that all legal and tax requirements are met to avoid any potential issues down the line. |
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Posted: 4/26/2023 7:03:22 PM EDT
[#2]
ask the lawyer who formed your LLCs, thats the best route
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