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How to Conduct a Friendly LLC Breakup

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  • 03-10-2009, 03:35 PM
    davecove
    How to Conduct a Friendly LLC Breakup
    My question involves business law in the state of: Texas

    Let's start with an LLC with 3 members, owned equally. For business focus reasons, 2 of the members want to exit the LLC and form a new corp. The 1 remaining party has been inactive for years. No problem yet...

    The new corp (with new EIN) needs to inherit the liabilities/assets (books), and IRS tax account (years of operating expenses to go against future earnings) of the parent and leave an 'empty shell' behind.

    This is a cooperative split up, so getting things signed isn't an issue.

    What needs to be drawn/signed/filed to do this?

    Dave
  • 03-12-2009, 07:01 PM
    Mr. Knowitall
    Re: How to Conduct a Friendly LLC Breakup
    We can't guess at that - we know nothing about the situation. Get help from an accountant or a business lawyer.
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