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Updated 6 months ago on . Most recent reply
2 owner LLC - breaking it into 2 distinct LLC’s
A friend and I have an LLC that owns multiple properties and for several reasons we would like to split the LLC into 2 LLC's and each own one. We would like to split the homes and both have separate LLC's moving forward. What is the best way to do this without incurring taxes?
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@Account Closed thank you! So we can take the original LLC that is 50/50 owned by 2 people and move half of the properties over to a new LLC where one partner now owns 100% and then the other partner would have the other half of the properties and have 100% ownership of that one and we pay no taxes? Thanks for all you help.
I do realize that the mortgage company may require additional info or not allow this.