Staten Island, NY asked in Contracts, Business Formation and Business Law for New York

Q: Can I partially own one LLC(A), as another LLC(B)? The other % of ownership of LLC (A) would be to an individual not LLC

Do i have any problems here? Or is this possible to partially own one company as another LLC ( B ) while still sharing ownership with a single individual of LLC (A)

Related Topics:
ContractsBusiness FormationBusiness Law
Answer this Question
2 Lawyer Answers
Gary Lane
Gary Lane
Answered
  • Irvine, CA
  • Licensed in New York

A: Yes. Done frequently. Should have no issues.

I agree with this answer Report

Jack Mevorach agrees with this answer

1 user found this answer helpful

David H. Relkin
David H. Relkin
Answered
  • Manhasset, NY
  • Licensed in New York

A: This type of structure is very common. But don't get involved in multiple LLC ownership levels unless you are guided by a knowledgable attorney. Taxation and control issues generally multiply exponentially.

I agree with this answer Report

1 user found this answer helpful

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.