Q: How do I divest myself of interest in an LLC; 50/50 Members in a dispute. Accountant says I can turn it over to State.
Accountant says I can turn it over to State of Michigan division of corporations.
A: There is no procedure for the state to accept a transfer to it of a membership interest in an LLC. It should be possible to resign as a member. You should consult with an attorney who can review the entire situation, and the accountant may be useful for advice as to potential tax consequences or tax reporting of the transaction.
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