Question
Assume that after reviewing your presentation for the Unit 10 Assignment where you compare and contrast different types of business entities, Daniel Hudson and the
Assume that after reviewing your presentation for the Unit 10 Assignment where you compare and contrast different types of business entities, Daniel Hudson and the other partners have decided to convert eHarbour from a general partnership to a limited liability company (LLC). Discuss the steps that the company must take to convert from a general partnership to a limited liability company in the State of Florida.
- What fees are involved?
- Who should be the registered agent?
- What are the renewal requirements to maintain the business after forming a limited liability company?
- Should the LLC be a member-managed LLC or a manager-managed LLC?
- What formal name is required for the LLC?
In addition, discuss whether the new limited liability company should elect to be treated as a subchapter S Corporation for tax purposes and what steps are needed to take the S Corporation election.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started