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Updated almost 17 years ago,
Piercing the corporate veil
If I have an LLC in which I conduct my business, how do I actually take profits out of that LLC for personal use (i.e. pay myself) w/o piercing the corporate veil and losing my liability protection?
Are there general rules around keeping personal and business activities separate that I want to be sure I don't violate? My main question, though, is how, as a newbie investor with a deal here and there, I actually personally receive the profits from my LLC while still maintaining the asset protection of the LLC.
Thanks!
Dan