Danielle's LLC to Corporation Thread
Last Post 02 Jan 2008 08:01 PM by WendyNC. 1 Replies.
AddThis - Bookmarking and Sharing Button Printer Friendly
  •  
  •  
  •  
  •  
  •  
Sort:
PrevPrev NextNext
Author Messages
WendyNC
WendyNC
Advanced Member
Moderator
Posts:527
Send Private Message
--
01 Jan 2008 03:03 PM
  • Quote
  • Reply
Once again, if I use an interesting combination, Safari will let me have one-time access to the thread, so here it is:

"Dear Colleagues:

For various reasons, I need to turn a client’s California LLC into a California corporation. My initial thought was to create a corporation, transfer the LLC interests to it in return for stock, and then dissolve the LLC and distribute the stock to the LLC members. This seems clunky. Does anyone have suggestions for a different mechanism to achieve our goal?

Thanks!"

Wendy Kimbel, ACP, NCCP<br>Paralegal Assistance, Inc.<br>105 E. Center St., Ste. C<br>Mebane, NC 27302<br>Phone: 919-967-4495<br>Fax: 919-304-0743
WendyNC
WendyNC
Advanced Member
Moderator
Posts:527
Send Private Message
--
02 Jan 2008 08:01 PM
  • Quote
  • Reply
Danielle, I'm assuming somebody has already reviewed all the tax aspects and determined that this is the right way to go.

Where you lost me was "distribute the stock to the LLC members." Did you perhaps omit a step in describing the scenario?

Thanks for the clarification.

Wendy Kimbel, ACP, NCCP<br>Paralegal Assistance, Inc.<br>105 E. Center St., Ste. C<br>Mebane, NC 27302<br>Phone: 919-967-4495<br>Fax: 919-304-0743


Copyright 2011 by ParalegalCity.com / ParalegalChat.com