Hi, I own two LLCs. My business partner 50/50 and myself want to split off and we agreed for me to take one Business and him the other… Any advice to keep this simple and best for taxes? The lawyers and accountants seem to not have great answers or they are really trying to overcomplicate things. Appreciate and advice. Possibly looking for a template contract that we can work off of and move forward.
Are there any debts owed across both? Split the debts and assets then update your operating agreements with the changes of ownership and get them notarized. At that point here in WA from there you can just go on the website and update the owner list ezpz.