Austin P. asked
I am a consultant for an LLC and the owner is offering me 10% of the LLC with voting rights. The company has $2,000,000 in revenue but also $2,000,000 in debt, with no hard assets and very little inventory and receivables. The company has some value in intellectual property. How will I be taxed when I take ownership in the LLC? Can I mitigate taxes by having another LLC take ownership of the shares? Is there any way to mitigate the tax liability?
July 27th, 2023
Wesley M. answered
When you take ownership in the LLC, the value of the 10% interest you receive needs to be determined...
July 27th, 2023
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