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Updated almost 6 years ago,

User Stats

1,250
Posts
214
Votes
Mary Jay
  • Glendale, AZ
214
Votes |
1,250
Posts

How to structure 2 or more member LLC?

Mary Jay
  • Glendale, AZ
Posted

Hi guys!

One very smart person said:

" If you want the multi member LLC because you are unsure if you could be contested in a single member LLC, then find a trusted friend and give them a nominal amount (5% or less) of the LLC (or even approach an investor for this type of request.)"

Originally posted by @Scott Smith

So, my question is, how to structure it? Lets say the second member/manager is my mom.

There is a statutory agent, member, manager, place of business, member managed or manager managed...

Its all really confusing.

1) Should I put as a statutory agent myself? Or the second member?

2) Place of business is the rental property, right?

3) member is me? 

4) If we have a multimember LLC how it affects taxing? Does it not flow into a personal tax return? Are we supposed to file taxes together with my mom now because we have that LLC together?

Thank you

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