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Updated over 3 years ago on . Most recent reply

User Stats

22
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13
Votes
Donald F.
13
Votes |
22
Posts

New LLC Question - Thoughts?

Donald F.
Posted

I am a member of an LLC just created, which is a JV partnership between myself/my partner (land owner) and a developer.

For any distributions to us (the land owner), the distributions will be sent to the account of another LLC where my land owner partner and myself are the sole members. Should I personally sign as a member of this LLC? Or create an LLC that only I will own, which will be an owner of this LLC that my partner and I own?

FWIW I also have an scorp LLC I use, separate from this, to pay myself a salary. I can use this as a signer of the land owner llc too if makes sense.

Will ask my cpa and atty. Just curious if BP has any thoughts on this. TY

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