Legal Question in Business Law in Utah
Leaving an LLC
I started a painting business, LLC, with a partner, 50-50. I now want to leave the business and want to know how to put a value on the business itself so that he can buy me out of my half. Thankyou
Asked on 3/12/07, 11:31 am
1 Answer from Attorneys
Randy Lish
Randy M. Lish, Attorney at Law
Re: Leaving an LLC
Your CPA should be able to give you a rough idea of the value of the business. If there is substantial value involved, you may want to hir a professional business appraiser. Some of the things the CPA or appraiser will look at are the cash flow, the income, and the book of business (how many repeat customers, how many corporate customers, etc.).
Answered on 3/12/07, 12:18 pm
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