Legal Question in Business Law in New Jersey
Can a LLC business be register to one person including EIN, and the business formation have 2 partners with 50% each?
1 Answer from Attorneys
The question is not very clear. But assuming I understand, the EIN requires only one responsible party whether there are 10 members or just 1.
The LLC can be set up as a single member then take on other members. The state record will not reflect. Usually any updates to the entity will be noted when the LLC does its annual reporting.
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Frank
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