Legal Question in Business Law in New Mexico
I have business as a sole proprietorship. If I change to an LLC, will my older business transactions as a sole proprietorship be covered under the LLC benefits.
Asked on 11/18/10, 11:46 am
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a franchise attorney I have to say more facts are needed. What "benefits" are you referring to? Normally speaking, if the LLC acquires the assets of your sole proprietorship, these become LLC assets, but subject to any claims against them when they were sole proprietor assets. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Attorney
Franchise Foundations APC
Answered on 11/23/10, 2:18 pm
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