Legal Question in Business Law in New York
LLC Information
I want to form an LLC to protect my family assets from potenital liabilities and torts (two teenagers driving...)
I would like to know which state department do I file with my operating agreement with, and also whether or not investment income derived from my assets in the LLC will incur self-employment taxes, healthcare taxes, etc... Thanks
Asked on 11/09/01, 2:12 pm
1 Answer from Attorneys
Norman Nadel
Norman Nadel, Esq.
Re: LLC Information
Take a look at
http://www.dos.state.ny.us/corp/llccorp.html
The transfer of assets to a LLC does not change the character of the income; investment income does not become subject to fringe benefits, etc.
Answered on 11/10/01, 12:34 pm
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