"D. Parque" <freelyshop[at]comcast.net> wrote:

- quote -

You need to meet with a tax pro right away. You might have
an IRC Section 751 "HOT ASSET" situation. Quite frankly,
unless you are a professional you will have great difficulty
understanding IRC Sec. 751.

Gene E. Utterback, EA

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My partner and I have decided to dissolve our two-member
LLC. We still have several boxes of inventory items left
which cost around $1700. We want to get the LLC over with
as soon as possible. What options do we have in getting rid
of the inventory? Can I acquire the entire inventory for
$500, pay my state the use tax, and assume the LLC has no
more inventory left?

Thanks in advance.
Dennis

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