Purdue University Global Business Entities Discussion

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zvgqnav2001

Law

Purdue University Global

Question Description

I'm working on a law discussion question and need an explanation and answer to help me learn.

Assume that after reviewing your presentation for the Unit 10 Assignment where you compare and contrast different types of business entities, Daniel Hudson and the other partners have decided to convert eHarbour from a general partnership to a limited liability company (LLC). Discuss the steps that the company must take to convert from a general partnership to a limited liability company in the State of Florida.

  • What fees are involved?
  • Who should be the registered agent?
  • What are the renewal requirements to maintain the business after forming a limited liability company?
  • Should the LLC be a member-managed LLC or a manager-managed LLC?
  • What formal name is required for the LLC?

In addition, discuss whether the new limited liability company should elect to be treated as a subchapter S Corporation for tax purposes and what steps are needed to take the S Corporation election.

Explanation & Answer:
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Explanation & Answer

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1

Business Entities

Student’s Name
Institutional Affiliation
Professor’s Name
Course
Date

2
Business Entities
What fees are involved?
According to the State of Florida, the partners are required to pay 100 dollars to file for
articles of incorporation
Who should be the registered agent?
The partners should select a registered agent with a Florida physical address who is
licensed to conduct business there. Legal and tax paperwork must be delivered to the
selected agent
What are the renewal requirements to maintain the business after forming a limited
liability company?
After establishing an LLC, there are no ongoing maintenance obligations; how...

senapvfznfnv313 (26823)
Carnegie Mellon University

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