You are Here
Search
what is required of my 2 member llc if 1 decides to walk away?
by spcljewels, Window Shopper
- Created: March 19, 2013, 11:57 am
I have a question as to whether It is to my benefit to continue with my
partner in our member LLC. or to move to sole proprietorship. What is the
benefit either way? It's is a small crafting business and we aren't making
any income yet.. I have just paid fees to renew LLC. with the state but
wondering what happens if my partner doesn't want to do any work required to
maintain and grow business. An online site to sell will be our next step..
We registered to be able to get wholesale prices for goods.. taxes are up to
date.
keeping name required..
Thanks for the input..
SBA Community

kmurray | Community Moderator | 3/24/2013 - 4:49 pm
BizResearcher | Window Shopper | 3/20/2013 - 11:14 am
one person is removed from the business. If you don't have a partnership
agreement and both of you are on the LLC paperwork as joint members, then you
have to file an "amendment to certificate of organization" to remove one
person.
Join The Discussion
You must be logged in to join the discussion. If you already have an SBA Community account, Log In to join the discussion.
New users, Register for a new account and join the conversation today!