Sole prio conversion in GA
I remember a law in GA about LLC converting from Sole priop when there is one owner - but was just curious! Thanks
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c8iNmMO8Wr3RjjacfA8pyY
09/17/09 1:58pm PDT
Viewed by asker 10/20/09 9:41pm PDT
Viewed by asker 10/20/09 9:41pm PDT
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grrepovschcpa
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09/17/09 4:05pm PDT
The solution
It they are a single member LLC then they still file a Schedule C, the only thing that changes is the liability. If they are forming a multi member LLC then it is a whole new company and there is no historical data. It saddens me that this is being asked by someone who appears to do accounting.
Marc Barnes
Copper Canyon Tax
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09/17/09 4:18pm PDT
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.. yes i understand that it should be a new company... but in GA I thought there was a provision to convert instead of forming a new LLC?
Mel Banks
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