Legal Question in Business Law in New Jersey

When the state revokes the charter of a limited liability company, the charter must be reinstated and the taxes paid in order to be in good standing. That would typically require the consent of the members of the LLC. Therefore I suggest that you and the other member decide whether you're going to reinstate the LLC, and come up with an agreement so you can sell your interest.

This problem is typical of people that set up a limited liability company without the help of a lawyer drafting the operating agreement and other necessary documents to protect the parties.

I hope this helps!

Ron Cappuccio

www.TaxEsq.com