Contact UsLLC-question. A California Single Member LLC under a major corporation's franchise . Client moved to Arizona and assisted two friends in forming the same structure LLC in Arizona. Franchise deposits income to the CA bank. The client has been paying the bills for the AZ multi-member LLC from the original California bank account. California has one EIN and AZ has a different EIN. At the end of the first year of the AZ multi-member LLC Client personally became a member.
LLC-question.
Question - Is the California LLC now the owning LLC of the AZ LLC as the client is the sole owner of the California LLC and the client personally is now one of the members of the AZ-LLC?
Or is the AZ-LLC now the owning LLC of the California LLC
Or are the two LLC's reported on a complex 1065 as 'related party ownerships'
Question - Is the California LLC now the owning LLC of the AZ LLC as the client is the sole owner of the California LLC and the client personally is now one of the members of the AZ-LLC?
Or is the AZ-LLC now the owning LLC of the California LLC
Or are the two LLC's reported on a complex 1065 as 'related party ownerships'
