Purchase of Tangible Items

Discussion in 'Growing and Managing a Business' started by ams, Jul 27, 2010.

  1. ams

    ams
    uix_expand uix_collapse
    New Member

    Joined:
    Jul 27, 2010
    Messages:
    2
    Likes Received:
    0
    I am working with a company that needs to transfer all of their tangible items to their LLC. How would I go about doing this?

    After that is done, another company is coming in to purchase the LLC. How would the second company purchase the tangible items without tax?
     
  2. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,578
    Likes Received:
    1,163
    Welcome to Business Advice Forum ams, thanks for joining and posting your business question. What country or state is the company located in? Does the company use the services of an accountant or have their own accountant?
     
  3. ams

    ams
    uix_expand uix_collapse
    New Member

    Joined:
    Jul 27, 2010
    Messages:
    2
    Likes Received:
    0
    Thanks for the welcome!

    We are located in Washington State.

    And from my knowledge (I'm new to the company), they have their own accountant. What would the process be if they didn't have their own accountant?

    Thanks for the help!
     
  4. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,578
    Likes Received:
    1,163
    I'm sorry ams, but your question is quite complex and I'm not based in the US. You really need to speak to an accountant or someone who is familiar with the legal aspects of what you are doing. If your company has an accountant, they would be the best person to speak to, because they will be familiar with other aspects of the company's financial set up that might impact on this.

    Making the effort to contact your accountant will show your employers that you have the will and resourcefulness to access the person you need to acquire the knowledge required to get the job done.

    Or perhaps another member of our forum might reply with the answer.
     

Share This Page