Are there any forms other than the final tax returns that need to be filed somewhere? If so, is there a cost? What are the tax consequences of transferring ownership of stocks to individual members?
2006-12-05 09:10:38 · 3 answers · asked by pkcoolj 2 in Business & Finance ➔ Investing
You need a lawyer to ferret that out. The reason is that you need permission of the general and limited partners depending what method you used (LLP, LLC, C-corp, S-corp). Tax consequences depend on this also, not just for you but for the members. You could easily be found guilty of tax evasion, fraud, breach of contract etc. depending on the situation. You might be forbidden from dissolving it if there is a dispute or if there is something funky with your documented procedures.
These issues are why you SHOULD have had a lawyer who is a specialist in this involved from the start and had a specific, written, exit strategy, preferably with an explicit timeline of of events BEFORE you started. Definitely, you could run into trouble now if you don't have help making sure all your i's are dotted and t's are crossed. By trouble I mean huge lawsuits, the IRS bugging you, bankruptcy and jail time. Especially in california. Cali is not known for having a court system that is sane.
2006-12-05 09:25:20 · answer #1 · answered by Anonymous · 0⤊ 1⤋
some questions that are not sparkling from the item. even as did the operation ensue? Had Colon signed with the Yankees on the time of the operation? replaced into the Yankees' known crew clinical specialist consulted and conscious of the technique? replaced into there a valid reason behind the operation to ensue interior the D.R. and by no skill interior u . s . a . of america? Does this operation clarify the version in performance with techniques from Colon over his maximum modern performances with the White Sox and pink Sox? Are the files of the operation obtainable for the Yankees' known clinical specialist to examine?
2016-11-30 04:34:31 · answer #2 · answered by ? 3 · 0⤊ 0⤋
You need a lawyer, financial advisor, and/or a tax specialist.
I hope your investments did well!
2006-12-07 04:03:15 · answer #3 · answered by MR MONEY 3 · 0⤊ 1⤋