Transfering an LLC

[max783]

FLORIDA

Hello there- I was planning on transfering the onwership of an LLC in Florida. Do the new and the old owner need to be present or I can send the signed paperwork? And btw- anyone has an estimate cost for this work?

Thanks in advance!

 

[adjusterjack]

At some point you will have to file the change with the state agency where the original LLC was filed. Whether that takes either or both of you is something you can find out by calling that agency.

As for the cost, if there is a filing fee you can find that out by calling the agency, too.

If you are referring to the cost of an attorney, well, the only way to find that out is to call attorneys and ask.

 

[max783]

At some point you will have to file the change with the state agency where the original LLC was filed. Whether that takes either or both of you is something you can find out by calling that agency.

As for the cost, if there is a filing fee you can find that out by calling the agency, too.

If you are referring to the cost of an attorney, well, the only way to find that out is to call attorneys and ask.

Thanks, I was trying to get an easier quote from any of you. More like an estimate of how much you would charge, or you think would be appropiate to pay.

 

[adjusterjack]

Thanks, I was trying to get an easier quote from any of you. More like an estimate of how much you would charge, or you think would be appropiate to pay.

What is it you want done?

It originally looked like everything was done, now I'm not so sure.

Have you already sold the business? In the process of selling? Have a sale/purchase agreement signed? Under negotiation? Agreement in principal with no terms and conditions? Agreed on a price? Still working on a price? Do you need all the papers drawn up? Or do you already have them all drawn up and ready to sign? Is this a long distance deal? Or are you both in the same town?

 

[max783]

What is it you want done?

It originally looked like everything was done, now I'm not so sure.

Have you already sold the business? In the process of selling? Have a sale/purchase agreement signed? Under negotiation? Agreement in principal with no terms and conditions? Agreed on a price? Still working on a price? Do you need all the papers drawn up? Or do you already have them all drawn up and ready to sign? Is this a long distance deal? Or are you both in the same town?

The price was agreed, still need the paperwork tho. Yes, this company will be sold in a foreign country. So if we can skip the flight, would be great.

 

[adjusterjack]

The price was agreed, still need the paperwork tho. Yes, this company will be sold in a foreign country. So if we can skip the flight, would be great.

There's no problem with express mailing documents back and forth for signature.

But if you need those documents drawn up you should hire a lawyer who has some experience with business sales by Americans to overseas buyers.

You'll pay $300 to $400 per hour to an attorney, might end up costing you a few thousand by the time the deal is done and you have your money but that cost is potentially a fraction of what you can lose if something gets messed up along the way.

You might also talk to a tax pro. There are ways of allocating parts of the purchase price to the various elements of the business to get the most favorable tax treatment on the income from the sale.