Legal Question in Business Law in New Jersey

Yes.

Yes. if you are putting time and money into this company, call up John Corbett, Attorney, and let him make sure that you have the legal issues covered. John is a good guy.

Yes, NJ recognizes one-man LLC 's. I have several clients for whom I filed them.

Yes. In fact, unless the sole member delegates authority to a manager or managers, the member is the person who has total management control. FYI... NJ's LLC law is about to undergo a major revision. Please feel free to contact me. 973-921-0600.

Kindly note and remember that my response is merely a general comment on the law related to your question, and NOT legal advice or opinion. Also, your question and my response does NOT create an attorney-client relationship between us. You cannot rely upon what I have written, because I do not have all of the information that I need to advise you or render an opinion. Even simple facts you have not shared can completely change my answer. For me to give you legal advice or opinion, you would need to hire me to be your lawyer, and then we would need to discuss this in detail and go over the documents.

IRS CIRCULAR 230 DISCLOSURE: As required by U.S. Treasury Regulations governing tax practice, you are hereby advised that written advice contained herein (if any) was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.

New Jersey has permitted single member LLCs since 1998. If you are using this for potential asset protection, you may want to consider a multi-member LLC. Also, it is important to have your Operating Agreement properly drafted by an attorney to protect you.

I hope this helps!

Ron Cappuccio

856 665-2121