Q: Is there any legal issues if you set up a 50/50 LLC in NJ and in the first year the K-1 shows unequal capital accounts?
This is a bar and restaurant. There are 2 LLCs. One for the business & liquor license and the other for the real estate.
A: Several legal issues exist but that doesn't mean that they can't be overcome, get yourself a good lawyer and CPA to determine what best to be done for your case.
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