Buying out business partner

LLC can be a single member. You don't have to close LLC if there is not restriction in the operating agreement, BUT you need to file with your state required documents (like in california is the statement of information.

IMPORTANT: Check your operating agreement what it say regarding resignation of a member.  you can buy out the interest, but please read the agreement.

I am pasting a link: http://the-llc-company.com/dis...

If this help please click thumbs up or solved, thanks

I'm not entirely across LLC transfer however you may want to take a look at closing the LLC anyway if you are concerned at all about historical transaction liability to the LLC. Although your business parter will be gone your LLC is designed to live beyond the original owners of the business. As such sometimes liabilities can be dragged along as well.

It's just a thought but perhaps a transfer of business may be an option that limits your liability even further than an LLC already does. Don't forget though you may have to balance this against tax consequences. 

Ultimately get some strong advice from an attorney and your registered tax agent.

Til later.

The Lad.

that is a good idea so i will suggest you to register at http://www.businessideas.pk and they are also taking business partner and allow you to start your own small business with them and get the tips and tricks related to your business

You should talk to a business attorney. It's important to make sure everything is done correctly to maintain the LLC.

If you don't have the money for a lawyer, you could use a legal kit that provides template forms instead.  There are several of them available. 

Here's one on Amazon.

I find that for people who don't want to spend thousands on a simple problem, these templates can cover their bases quite well.