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bobcat2112

Guest
What is the name of your state?
CA

Maybe you can help me with a dilemma. I'm dealing with two businesses, an llc and a sole prop. The LLC is mine and the sole prop. is my partner's in a joint project. My partner has a tax lien though and I'm afraid to use my partner's business for sales and income so I created the LLC. If I make my partner a member in the llc, do they use that persons credit record? I want to protect the equal partnership we have by forming one company, my fear is the tax liens, credit etc. hurting the llc's loan chances etc. but I don't think the tax lien would affect the llc or would it?

Any advice?

Thanks
Bob
 


L

loku

Guest
The creditors of a member of an llc can attach the income of the llc up to the value of the debtor member’s share, and they can get to the assets in the event of dissolution to the same extent. Therefore, it is possible that if you make your partner a member, it could affect the credit. But I think you should talk to a banker about that. It is not really a legal problem.
 

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