Benjamin R. asked

💰  Tax

I have a large investment check coming soon for my Nevada LLC, but I cannot open an LLC bank account until I have a filing number. Can I open a sole proprietorship business banking account to deposit the money temporarily to avoid capital gains tax, and then transfer it to the LLC bank account once it is established?

October 5th, 2024

Crystal A. answered

The large investment check is considered an initial investment or capital contribution, so there sho...

October 5th, 2024

Sign Up to View Full Expert Answers

Create an account to view answers and interact with the community!