Legal Question in Business Law in New York

Way too complicated to be answered by email. Lots and lots of tasks to accomplish to dissolve a partnership. However there might be an easier route than "severance."

Good luck.

If you are referring to yourself being an LLC member, then from a legal perspective (unlike tax perspective) an LLC is not a partnership, rather it is an incorporated entity that is subject to corporate rules. Generally speaking, in NY a member of an LLC cannot unilaterally leave the LLC or sever the LLC, unless the operating agreement of the LLC permits it or unless a court orders it.

Therefore, the first step would be to review the operating agreement of the LLC. If there is not operating agreement then the default rules of the Limited Liability Company act would be operative. The second step would be to either create a legal case for removing yourself from being a member of the LLC or dissolving the LLC entirely.

I would start with a review of the operating agreement to give you a sense of what could be your options. Such review is generally not expensive and can be completed in just a few hours. Contact me directly.

​ Roman R. Fichman, Esq.

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