Issue : Did LLC failed to pay the market value of OLSON`s interest? .Rule: A member`s ownership interest in an LLC is not freely transferable.A transferee of a member distributional interest receives only the member`s share of LLC distributions. .Application: according to the written agreement LLC payed the capital account and 2005 compensation to Olson.Olson may argue that due to the oral agreement LLC breached it`s duty to pay fair market value of a member.on the other hand LLC may argue that
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Elements of a Business Plan 1. Cover sheet 2. Executive summary (statement of the business purpose) 3. Table of contents 4. Body of the document A. Business 1. Description of business 2. Marketing 3. Competition 4. Operating procedures 5. Personnel 6. Business insurance B. Financial data 1. Loan applications 2. Capital equipment and supply list 3. Balance sheet 4. Breakeven analysis 5. Profit and loss statements 6. Three-year summary 7. Detail by month‚ first year 8. Detail by
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Nicole Kemp Final Paper Outline January 7‚ 2013 BUS 670: Legal Environment Professor Jennifer Stephens Bullying and emotional abuse in the work environment: * Types of abuse * Consequences * Causes * Corrections * Florida Employee Rights * Methods to Stop the abuse * Explanations for work place bullying * Organizational bullying * Targets * Prevention and Intervention References Adams‚ A.‚ & Crawford‚ N. (1992). Bullying at work: How to confront
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Homework Solutions: Spilker et al. C h. 20 40. Harry and Sally formed the Evergreen partnership by contributing the following assets in exchange for a 50 percent capital and profits interest in the partnership: Harry: Cash Land Totals Basis Fair Market Value $ 30‚000 $ 30‚000 100‚000 120‚000 $ 130‚000 $ 150‚000 Sally: Equipment used in a business Totals 200‚000 $ 200‚000 150‚000 $ 150‚000 a. How much gain or loss will Harry recognize on the contribution? b. How much
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Delimited File Reports Version 2.0 January 8‚ 2013 Published: November 27‚ 2012 TECHNICAL SPECIFICATIONS Delimited File Reports Version 2.0 Chase Paymentech Solutions‚ LLC 2013 - All rights reserved This document contains confidential and proprietary information of Chase Paymentech Solutions‚ LLC No disclosure or duplication of any portion of these materials may be made without the express written consent of Chase Paymentech. These materials must be used solely for the operation
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Sampling and Data Collection Plan: Amsterdam LLC Cindy Smith QNT/561 November 10‚ 2014 Professor Derek Blythe Sampling and Data Collection Plan: Amsterdam LLC Amsterdam LLC is a transportation company that transports clients to and from their destination throughout the states of Ohio‚ New York‚ and Illinois. The company operates over 1‚500 vehicles and consumes at least 3 million gallons of fuel per year. The company has realized that the operation and maintenance of the outdated vehicles are becoming
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knowledge and metacognitive beliefs may also be used to judge time. For example‚ people reconstruct the durations of specific military conflicts‚ epidemics‚ and other events by using their knowledge of the typical duration of these types of events (Burt & Kemp‚ 1991). Metacognitive beliefs about the causal relationship between events also influence perceived duration (Faro‚ Leclerc‚ & Hastie‚
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control could not be an advantage of it. At the same time it should be noticed that the registered users of this company are almost from south-east Asia. Data shows that the active social network users in south-east Asia is 112 million in January 2014(Kemp 2014). It reveals the monopoly position in this area. Considering
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entities? The two main business entities that are taxed as flow-through entities are partnerships and S corporations. Partnerships are taxed under Subchapter K and consist of general partnerships‚ limited partnerships‚ and limited liability companies (LLC). S corporations are taxed under Subchapter S. Both these types of business entities are treated as flow-through entities and are taxed accordingly. 3. [LO 1] Compare and contrast the aggregate and entity concepts for taxing partnerships
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organizations. Limited Liability Corporation (LLC) A Limited Liability Corporation (LLC) is a company combining the benefits of a partnership and a corporation. A LLC acts as its own entity with the limited liability‚ but also has the tax savings as if it were a sole proprietorship (“The Advantages of an LLC Company”‚ 2013). Advantages of an LLC are limited liability‚ require less paperwork‚ and have the ability to profit share. Disadvantages of an LLC are limited life and members are subject to self-employment
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