Next question in the series “Things You Should Know According to Your Neighborhood Lawyer – Constitution Edition” Question 3: “Can the federal government regulate the business of a manufacturer that produces musical instruments only in California?” “Probably, since the materials used to produce the instruments and the finished products most likely cross state lines. The […]
The term used for an owner of an LLC is “member” and an LLC can have a single member or many members. The difference between the two is fairly obvious, but can be worth addressing. Generally a single member LLC will be managed by that single member, though it is entirely possible that the single member could chose to have a manager run the LLC instead. The single owner LLC generally operates much like a sole proprietorship with the owner exerting full control over the business.
In today’s world, wherever you turn you may run into a tax – income tax, property tax, sales tax, gas tax…… and the list goes on. A question that needs to be answered for our personal injury clients is whether Uncle Sam wants his cut! Like many “law answers” — it depends.