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people who've formed a business with a partner (LLC, INC)( contract stuff
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calveless wonder
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you should establish which you want to be first before anything, because it has significant tax ramifications as well as limits what kind of partnership you can enter into.
If he doesn't have money, then he should be included as the managing partner, otherwise if it's a general partnership type relationship, you both bear equal burden and share. As general partner though, you will bear a brunt of the liability. of course establishing an LLC shields you quite a bit from that personal liability
regardless, you'd be a moron not to have an attorney create the entity for you and write up the terms of the partnership agreement. don't ask a site you hardly post anymore on for the future direction of your business, just not very prudent
digimon7068
New member
what do you want to know? you can set up your own llc...don't even need an attorney...however, i always recommend one anyway because:
a) you should have a good operating agreement in place and
b) if you ever end up suing or getting sued with regard to the entity, the entity will look a lot more legitimate (and have a better chance of protecting your personal assets...i.e., the first and most important reason to set up a corp or llc in the first place) to your lawyer, the other person's lawyer and the judge (who is probably also a lawyer).
i'm a cpa and i have a masters degree in taxation...pm me if you want
mrplunkey
New member
It's called making him an employee.
You front the money. He gets goals and objectives. If he meets those goals and objectives, he can buy into (or be given) a minority stake in the company.
mrplunkey
New member
wonder if I can LLC/Inc my enterprises
Aren't $2 blow jobs in a Cutter's bathroom stall a cash-only business? Where would you even swipe the credit card?
DUDE its all about the phones that have the slot where you can swipe ur credit card, so all pick3 has to do is pull out his phone!
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gotmilk
New member
Since it looks like you do not quite understand corp formations, find your State Secretary of State's online web site and download some of the registration forms. You will get an idea of what kind of information is needed to start a business.
C-Corp, S-Corp, Non-Profit, For-profit, etc...
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