QUESTION

I am interesting in forming an llc with a partner

Asked on Jun 03rd, 2013 on Business Law - New Jersey
More details to this question:
I started an online business about a year ago selling on ebay and amazon under my personal account.. now I have a friend interested in joining the bussiness and we want to form an llc together, as memebers I believe. Need advice and help.
Report Abuse

1 ANSWER

In order to form an LLC, you must draft a certificate of formation, pursuant to the statutory requirements.  You should have an operating agreement that sets forth the rights responsibilities and liabilities of the various members, including capital contributions.  Thereafter, you must file annual reports and pain annual fee to the Secretary of State's office.  Check the Secretary of State's website to see if there are forms available.  If not, or if the forms are insufficient to answer all your questions, I strongly recommend that you consult with counsel.  Not only will this help you get it right, but if there is a mistake made in the formation, you at least have some recourse to get it fixed.
Answered on Jun 25th, 2013 at 8:34 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters