Calling aLL NY stunters and stunteresses
NealFoReal
Joined: Oct 2006
Posts: 36,000
From: QUEENS, NY BITCHES
Re: Calling aLL NY stunters and stunteresses
All income from LLC's passes through to the individual members. Same applies with expenses/debts/judgments/etc. 
bp chaser
Joined: Oct 2002
Posts: 85,653
From: LI, NY and I drive in Australia
Re: Calling aLL NY stunters and stunteresses
it looks like getting a loan for a throw away corporation will be too hard, so now im looking into renting parking lot space for one month, the way christmas tree sellers do it. then after the month is up, just keep riding there
NealFoReal
Joined: Oct 2006
Posts: 36,000
From: QUEENS, NY BITCHES
NealFoReal
Joined: Oct 2006
Posts: 36,000
From: QUEENS, NY BITCHES
Re: Calling aLL NY stunters and stunteresses
Operating as an LLC form of partnership does not mean that appropriate US federal partnership tax forms are not necessary, or not complex. The entity's income and deductions attributed to each member are reported on that owner's tax return.
NealFoReal
Joined: Oct 2006
Posts: 36,000
From: QUEENS, NY BITCHES
Re: Calling aLL NY stunters and stunteresses
But a corp provides the benefit of not having liability however its set up. 
Registered User
Joined: Jul 2005
Posts: 8,290
Re: Calling aLL NY stunters and stunteresses
If they were to do that it'd be better to start a corporation instead of an LLC. I learned that the hard way. With an LLC they could come after the members of the LLC if it came down to that. With a corporation they go after the corp and not the individual owners of that corp. So with what youre saying, if a corporation was started and fenced in a lot with no insurance and fines were written against the corp, nothing would happen except the corp if they didnt pay would be hit with judgments but that wouldnt be a big deal. If it were an LLC and it were hit with judgments, those judgments would be passed on to the members of the LLC.
nice idea though.
Registered User
Joined: Feb 2009
Posts: 335
From: Brooklyn, NY
NealFoReal
Joined: Oct 2006
Posts: 36,000
From: QUEENS, NY BITCHES
Re: Calling aLL NY stunters and stunteresses
even if you were to form a corporation, the corporate owners who hold shares of the corporation can be held liable under the theory of "piercing the corporate veil". the smaller the corporation and the easier it is to pierce and find officers and shareholders liable for the actions, torts and contracts of the corporation.
nice idea though.
nice idea though.
i had setup a corporation about 2 years ago for a business that I was trying to get running and that corp got hit with some tax liens from NYS. Those liens havent been paid to this day and they havent come after me personally. But from issues I had with my LLC and my dumbass accountant, NYS & the IRS came after me personally along with some others lol 
So Im a little confused. 
NealFoReal
Joined: Oct 2006
Posts: 36,000
From: QUEENS, NY BITCHES
MERK STEP UGHHHHHH
Joined: Oct 2008
Posts: 4,018
From: baldwin, ny, united states
Re: Calling aLL NY stunters and stunteresses
on top of the lot idea it would probably be easier to find a public area in the middle of nowhere, possibly out off ocean parkway in the not used jones beach lots.
MERK STEP UGHHHHHH
Joined: Oct 2008
Posts: 4,018
From: baldwin, ny, united states
