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Updated almost 6 years ago,
How to structure 2 or more member LLC?
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