One reason that almost all business sales now-a-days are structured as asset sales, not entity sales.If you do buy into his LLC, assuming it's disregarded for federal income tax purposes, we treat it like this: (1) an asset sale to the existing holder, the buyer obtains an undivided interest in the LLC assets and simultaneously (2) the buyer and seller (members) are deemed to contribute of each of their undivided interests in the LLC assets and liabilities into a newly formed partnership tax entity.There isn't a 754 election available in this situation, as a partnership interest was not what was sold for tax purposes. 

. :)  I am not sure if this is just Idaho Tax or Federal Tax too. 

@Caleb RayTaxes for a multi-member LLC is treated like a partnership at the Federal level by default. 

S-corp and C-corps (those are tax structures under federal law, not state law).

But this is subject to certain rules.There's also the 1031 exchange route to defer your taxable gain into a similar property.

Indiana has already been awarded over $200 Million in Federal funding to add a second rail line on the South Shore which runs from Chicago all the way to Michigan.

Plus, the Federal Reserve is prepared to keep monetary policy loose for the foreseeable future.

It's from BP Federal Credit Union in Houston.

The dollar has lost 98% of its value since the establishment of the Federal Reserve and the money printing never stops.

There is only one Federal return.