Legal Question in Business Law in California

Selling a LLC

Hi I am a partner is selling the above. At this point the company has made about 150,000 for the year. That is the gross amount. What number would we base our sale on. Gross or Net.


Asked on 12/09/07, 4:20 pm

1 Answer from Attorneys
Jonas Grant Law Office of Jonas M. Grant, A.P.C.

Re: Selling a LLC

LLCs have members, not partners, but I assume you mean you are a member in the LLC. Valuation is not a legal question, it's a product of negotiation and/or outside appraisal. Appraisals vary depending on industry and other factors. Once the structure of determining a price, or a price, have been agreed upon, if not sooner, the parties should retain attorneys to properly document the deal (and to fix any issues with the LLC, which are likely to exist if an attorney has never been involved before).

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Answered on 12/10/07, 7:53 pm


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