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Replies: 9
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Heisman Winner [111526]
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Joined: 9/10/03
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Lounge lawyers
Sep 30, 2021, 6:44 PM
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I have been asked to sign a "LIMITED LIABILITY COMPANY MEMBERSHIP INTEREST
TRANSFER AND ASSIGNMENT AGREEMENT" transferring 10% of membership interests of the company I work for to Tigerbalm1. Is there anything I should look out for? They said I have to give them $100, originally they wanted me to buy in on %10 of the value of the company, removed from my salary across 10 years, but I am getting in for a benjamin because I explained exactly why I should not have to give them one red cent for this.
area of concern
under certain circumstances by including the following under the defined term of “Involuntary Withdrawal”: “With respect to any Member, if at any time after the execution of this Agreement, Members holding a Percentage Ownership of fifty percent (50%) or more in the Company determine, by written instrument that any such Member’s position as Member of the Company or affiliation with the Company is not in the best interest of the Company and/or is negatively affecting the harmonious operation of the Business”
and what are drag along rights?
thanks
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Lot o points [163012]
TigerPulse: 100%
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Joined: 1/17/07
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No, but Lounge accountant
Sep 30, 2021, 6:52 PM
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says you do have to look at the value of the company to determine what compensation you have received.
From a tax standpoint, you paying $100 for something that is worth, say $100,000 will mean you have received $99,900 this as compensation. Valuation should include minority ownership discount btw.
HTH.
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Heisman Winner [111526]
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Re: No, but Lounge accountant
Sep 30, 2021, 7:00 PM
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thanks, I had a good day then.
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Lot o points [163012]
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Other discounts to valuation might also apply
Sep 30, 2021, 7:02 PM
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I would look at getting a professional involved if talking bout serious money. I am sure there are ways to do this to get the best tax treatment.
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Heisman Winner [119687]
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You belong in PnR and Ampitheatre…
Sep 30, 2021, 6:53 PM
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??
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Heisman Winner [111526]
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That is no way to talk to a business owner.***
Sep 30, 2021, 6:55 PM
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Heisman Winner [119687]
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Re: That is no way to talk to a business owner.***
Sep 30, 2021, 6:58 PM
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Congarts
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Heisman Winner [111526]
TigerPulse: 100%
Posts: 73740
Joined: 9/10/03
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Re: That is no way to talk to a business owner.***
Sep 30, 2021, 7:01 PM
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thanks, never thought I would see the day. But more importantly, neither did any of you assholes.
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Heisman Winner [135824]
TigerPulse: 100%
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Joined: 8/26/07
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Congratulations on your purchase of
Sep 30, 2021, 7:54 PM
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a time share.
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110%er [6402]
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Re: Lounge lawyers
Sep 30, 2021, 9:38 PM
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Dude, a hundred bucks over ten years would be like fifty cents a month or something. Let'em take out of your check and see where the market goes.
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