I’m paying almost 5k a year on my newly possessed comercial building and it has a small mechanic shop in the garage. It’s an old gasoline station no pumps, no gas tanks just my new residence. My insurance agent made an additional charge of 1.5k for the small business shop in the back and it’s... Read more »
answered on Nov 30, 2022
An Iowa attorney could advise best, but your question remains open for two weeks. However, it would be difficult to answer your question about whether you need additional insurance. This is something to go over with your insurance carrier or broker, who would review your needs in more detail.... Read more »
Father and two siblings put farm into LLC (split 50/25/25). One of the siblings is going to nursing home and selling their membership units (25%). An agreed price has been established for units. Should the LLC buy the seller's units and then sell them to me? OR Should I buy into the LLC first?... Read more »
answered on Aug 20, 2019
You need to hire a professional. There's a few things in your question that are not correct in regards to how an LLC functions. You're going to need more detailed advice than should be given through this forum.
answered on Mar 15, 2012
Corporations have no termination until you wind it up. It differs thus from a partnership. Corporations are perpetual entities.
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