We have 2 LLCs that have partial shared ownership, 2 people are owners in both, 2 more are owners in just one. We are hoping to have an S Corp that is owned by the 2 that own both to employ everyone that currently works in the LLCs to consolidate and simplify things for employees and compliance.... Read more »
answered on Mar 10, 2023
You could set up an entity to provide employees to both and then be reimbursed by both entities for the employees. Or the employees could be employed by one entity and when they work for the other - the other entity reimburses the first entity for the time of the employees.
answered on Feb 15, 2023
The Tennessee Secretary of State's Office may have information. Contact the business services department.
A member has decided, of their own will, to leave the LLC. The LLC is in debt and doesn't have an operating agreement. Does the withdrawing member owe any money to the LLC as buying themselves out?
answered on Jan 24, 2023
Depends on the debt. Are they personally obligated? Is the business just in debt? Or does it have a positive fair market value? Typically, without an operating agreement, when a member quits the LLC pays fair market under TCA 48-249-505. But there are other considerations as well. Consult counsel... Read more »
I am looking to open up a car detail/ tire shop and want to ensure I am not in any violations when looking for a location.
answered on Dec 14, 2022
There's not so much a list but various items you may want to look at - for example, codes and zoning. Make sure where you open up shop, you are permitted to operate. Then you'd want to check the environmental laws on disposal of tires and fluids. And then other statutes like the consumer... Read more »
I have an online business that I made with a friend but everything is in my name included the LLC but he is in a good amount of the footage that our online course provides but his name is literally on nothing except for about half of the videos. I do think he should be payed something but how do I... Read more »
answered on Oct 26, 2022
Your post indicates that you are the only member of the LLC and from this I am assuming all of the online content is owned by either you or the LLC. You don't indicate the agreement with this other person - and you likely should discuss this with a lawyer rather than creating another post. -... Read more »
My father (general partner) in our Limited Liability corporation has recently died and me (the limited partner) needs to convert the business to a sole proprietorship. What form can I access in order to undergo the conversion? If not, is a general partnership a better idea? Thank you.
answered on Aug 2, 2022
No form is going to meet your objective, and you are confused about LPs and LLCs. Hire an attorney to examine the business and its assets, and then advise a course of action. Sole Proprietorship means you individually own it. It may be very simple, instead of a formal Dissolution.
Im wanting to start an ecommerce website. Do I need a LLC to protect myself just to test the business and the market. However, I do have an ok savings but I do not want to get sued. I'm scared that I would lose my personal savings if I don't.
What I mean by testing the business... Read more »
answered on May 17, 2022
I'm not a Tennessee attorney, but the answer to your question would be more or less the same in any state.
I agree with Mr. Wright. Yes, you should have an LLC out of the gate. A corporation is another alternative, but an LLC is generally the structure of choice for small... Read more »
I have an electricians license in TN as well as local business licenses. I have registered to pay business tax and franchise and excise tax on Tennessee. I live in Virginia and have formed my LLC in Virginia. Am I okay to use my local TN business licenses and my TN electrical license to perform... Read more »
answered on Apr 1, 2022
You could register your VA LLC in TN as a foreign entity.
answered on Nov 6, 2020
There is an old saying that anyone can sue anyone for anything. The question would be whether someone can sue over an oral agreement? Most oral agreements are valid. There are a number of exceptions. For instance a contract for the sale of real estate must be in writing.
I have contacted every agency I can think of in Tennessee to find out if I need a license to manufacture lotions, soap and Bath Bombs in Tennessee. Everyone says they know if no requirement. If this is true, is there a county or city license I need?
answered on Oct 30, 2020
You would need a business license for the city / county where you are dong business. Beyond this the soap products are regulated -
I am attaching below a link that may help you get some guidance.... Read more »
Can he be a 50/50 shareholder?
answered on Oct 12, 2020
Look at TCA 62-2-601 and 602 - This explanation is from the State's website: A corporation, partnership, or firm offering architectural, engineering, or landscape architectural services to the public may engage in the practice of architecture, engineering, or landscape architecture in... Read more »
answered on Aug 6, 2020
You should be able to get a form online from the Secretary of State Business Services website. Make sure and check whether it can be done online, because some changes must be mailed in.
Hello, I am a Pharmacist in Tennessee, and I want to start an online pharmacist consulting business involving reviewing patient's medications, recommending optimal therapy based on best evidence, answering drug information questions and providing cost-savings by finding cheaper alternatives... Read more »
answered on May 18, 2020
You are likely in need of a business attorney to advise regarding these points. I recommend you consult with an attorney for detailed answers to these questions and deeper discussions of potential legal risks in this new business plan and ways you may mitigate that risk.
The law generally... Read more »
My business is registered with the IRS under my home address which was in Tennesee. My company is an outreach (home health) service that does not have a physical location. The services will be provided in Tennessee only at this time, however, I (the owner & founder) moved to Mississippi. Do I... Read more »
answered on Sep 30, 2019
If you are providing the services in Tennessee, then you should likely either incorporate in Tennessee or you could file in MS and also file in Tennessee as a foreign LLC transacting business in Tennessee. For a deeper discussion of the pros and cons of each option, I recommend you speak with an... Read more »
How can I remove him from the LLC without dissolving my company? I asked him to sign papers to remove him and he refused. He never paid anything toward the business or filings for any of our licenses. He is in debt to the company for his legal fees and using the business credit to fund personal... Read more »
answered on Sep 30, 2019
You could file a lawsuit against him to have his membership interest terminated. Consult with local counsel to review the LLC's operating documents to determine your best course of action.
WEALTHBUILDER Trade Mark
answered on Sep 21, 2019
You chose good categories, but what you describes sounds like trademark infringement. Try reposting in the Trademark (and maybe Intellectual Property) category(s). It would have a better chance of being seen by an attorney who is knowledgeable in this area. Good luck
The house is to be short term leased from the current owner during the renovation, so the person I am loaning to won't own the property until the day before it is re-sold.
answered on Sep 5, 2019
NO- if I were you, I would not loan money on real estate without a lien on that real estate. If the deal goes bad, you want to be able to force a sale of the property to get your money back. The current owner will need to sign the note and a deed of trust/mortgage.
Contracts with local clients- established. Investor wanted to deposit “monies” from unknown sources into business account. I am a Lease holder and investor has put myself and the employees out. Investor has made slanderous comments to members of the business community. I have lost all wages,... Read more »
answered on Aug 19, 2019
Based on the facts provided you may have a claim for tortious interference with business relationship.
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