Limited liability company (LLC). This is an association organized under the Limited Liability Company Law of 1994. Under this law documents may be executed by a duly authorized member or a managing member. (Signatory person must sign as Member or Managing Member on Title Line)
Limited liability company (LLC). If you are a single-member LLC (including a foreign LLC with a domestic owner) that is disregarded as an entity separate from its owner under Treasury regulations section 301.7701-3, enter the owner’s name on the “Name” line. Enter the LLC’s name on the “Business Application for IRS Individual Taxpayer Identification Number, to apply for an ITIN, or Form SS-4, Application for Employer Identification Number, to apply for an EIN. You can get Forms W-7 and SS-4 from the IRS by calling 0-000-XXX-XXXX (0-000-000-0000) or from the IRS Web Site at xxx.xxx.xxx. If you are asked to complete Form W-9 but do not have a TIN, write “Applied For” in the space for the TIN, sign and date the form, and give it to the requester. For interest and dividend payments, and certain payments made with respect to readily tradable instruments, generally you will have 60 days to get a TIN and give it to the requester before you are subject to backup withholding on payments. The 60-day rule does not apply to other types of payments. You will be subject to backup withholding on all such payments until you provide your TIN to the requester.
Limited liability company (LLC). If you are a single-member LLC (including a foreign LLC with a domestic owner) that is disregarded as an entity separate from its owner under Treasury regulations section 301.7701-3, enter the owner’s name on the “Name” line. Enter the LLC’s name on the “Business name” line. Caution: A disregarded domestic entity that has a foreign owner must use the appropriate Form W-8.
Limited liability company (LLC). If you are a single-member LLC (including a foreign LLC with a domestic owner) that is disregarded as an entity separate from its owner under Treasury regulations section 301.7701-3, enter the owner=s name on the “Legal Name” line. Enter the LLC=s name on the “Trade Name@ line. Other entities. Enter your business name as shown on 4. during 1983. You must sign the certification or backup withholding will apply. If you are subject to backup withholding and you are merely providing your correct TIN to the requester, you must cross out item 2 in the certification before signing the form.
Limited liability company (LLC). While wearing the corporate form, essentially, an "LLC" is similar to a Limited Partnership, except the general partner also carries limited liability. Profits are taxed through individual owners' personal tax returns. The advantage of this form over an "S'' Corporation is that other corporations may be owners, and the "LLC" may also hold 100% ownership in subsidiary companies. Be aware that LLC is a relatively new business form. Legal precedents have not been set to outline clearly all the legal and tax ramifications of this form of organization. If interested in becoming an “LLC” you
Limited liability company (LLC). Documents–Articles of Organization (with amendments), Fact Statement or Certificate of Existence, Operating Agreement, Borrowing Resolution, and evidence of registration with the appropriate authority.
Limited liability company (LLC). Taxed as a partnership under Subchapter K. May be preferable to a limited partnership since an LLC may be created with both voting units and nonvoting units. For example, an LLC may issue a few voting units and many nonvoting units. See Example 3-1 below. This is similar to the general partner – limited partner structure of a limited partnership, but without the complexity of having an entity serving as general partner and thus creating a two tier structure. Example 3-1: Model Discount Family LLC. Mom and Dad contribute a family business and investment assets to newly created FLLC in exchange for four voting units and 9,996 nonvoting units, divided between them as follows: MEMBER VOTING UNITS NONVOTING UNITS TOTAL Mom 2 4,998 5,000 Dad 2 4,998 5,000 Total 4 9,996 10,000 The voting units and nonvoting units have identical rights and obligations, except that the voting units have all voting rights and the nonvoting units have no voting rights. Mom and Dad create Daughter’s Trust for their daughter and Xxx’s Trust for their son. Mom and Dad then make a gift of cash to each of the Trusts. These Trusts are irrevocable and grantor to Mom and Dad for income tax purposes. Mom and Dad are Trustees of these Trusts, although certain Trustee’s duties, such as making distribution decisions for reasons other than HEMS, are delegated to an Independent Trustee. Dad then sells one voting unit to Daughter’s Trust, and Mom sells one voting unit to Son’s Trust for fair market value. Since each voting unit sold represents only a 0.01% interest in the net assets of the FLLC, the sales price would presumably be modest. Following these sales, the ownership of the units would be as follows: MEMBER VOTING UNITS NONVOTING UNITS TOTAL Mom 1 4,998 4,999 Dad 1 4,998 4,999 Daughter’s Trust 1 0 1 Son’s Trust 1 0 1 Total 4 9,996 10,000 Mom and Dad could then decide whether to make sales or gifts of nonvoting units to the Trusts, or do some combination of the two. If the FLLC Operating Agreement is properly drafted and if the necessary protocols are observed, then these sales/gifts should qualify for minority interest and marketability valuation discounts. Assume that Dad dies with Xxx surviving. Dad does not want to leave his one voting unit to Mom, since that would give Mom half of all outstanding voting units. The family could get greater minority interest and marketability discounts if Mom dies with 25% and not 50% of all voting units. Instead, Dad may leave his one remaining nonvoting...
