"MrMoMo" <chairman_mowski[at]yahoo.com> wrote:

- quote -

This is a legal issue, not a tax issue.

An LLC is like anybody else - it can engage in more than one
business. But if the LLC is in two businesses, so are its
owners.

An LLC can be a partner in two businesses, and the other
partners will not have an interest in the other business
than the one in which they are partners. That's probably
the safest way to do this.

Stu

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MrMoMo wrote:

- quote -

If these "investors" do nothing more than lend money to the
LLCC, the LLC will pay them interest plus the principal.

However if they want a piece of the action, then they put
in equity capital, owning portions of the business in
respect to their contributions. Notice I do not use the
word "shares', as that is similar to common stock shares.

and if they are equity investors, and both your activites
are in the LLC, they profit/lose from results of both.

So then, you might just want to form another LLC for the
consulting side.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

I have just formed an LLC. I would like to use it for two
independent business, a consulting and a web business.

For the web project, I will have two investors. Can I issue
member ownership just for the web business? I want to keep
them independent to my other consulting business.

Thanks in advance.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >