Legal Question in Business Law in Ohio

Re: New Business

Dear Mike: I'll be pleased to help you.

I've done this for a number of out-of-state clients whom I've never met except by 'phone and email and, happily, they're still in business, .

You should form your new LLC, first obtaining a Federal tax ID number through (a telephone call to)your local IRS office. Next, your attorney should prepare the detailed terms of the sale/purchase documents, with specific representations to protect you from any liability the present seller may have as to IRS liens, delinquent FICA or other unpaid contributions, taxes, assessments, and regional and local taxes, includimg all filings and returns. Your payment for the business should be on a periodic basis, whether monthly or semi-annually, or even annually, not a lump sum. This is to protect you against any hidden or undetected bills, liens, pending litigation, etc.

I will be pleased to assist you; we're only as far away as your telephone, celphone, or computer keyboard and email.

But, above all, obtain experienced legal assistance ASAP to avoid serious problems. Good luck.