Llc In Nevada
Can I establish LLC in Nevada and sell my california business to my LLC? How?
I just started a business in California as a Sole Proprietorship.
Can I establish an LLC in Nevada while having the business in California?
If yes, after forming my LLC in Nevada, Can I sell my California business to the LLC, How it works? How can I sign twice on the Purchase Sale Agreement? will it be legal?
Can I change my california Sole Proprietorship to LLC status but in Vevada or Delware?
Can LLC in Nevada contain one member? In this case, I think I don’t need minute meetings? Is that right?
Please advise.
It would be legal but the IRS wants all transactions to be “arms length” and selling to yourself is not arms length. Normally you would be expected to merge your 2 businesses and there would be no “sale”. Some companies sell to a 3rd party and repurchase from them, but that can lead to trouble too. Read more at www.IRS.gov or call 800-829-1040 Help Line..
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