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by will_brown
2584 days ago
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Not exactly...So for example say you owned a share of Apple, obviously you will not be liable for debts of the company by your nature as an owner and the company will not be liable for your personal debts as an owner. With the single member LLC you are still protected from the debts and liabilities of the company, but a creditor/judgment holder/lien holder could likely collect against the LLC and even potentially “foreclose” on your ownership interest and take over the company. Best advice for anyone, especially a foreigner without SSN/ITIN, is to get a lawyer. Note for all foreigners, IRS changed their rules to get an EIN 5/10/19 and this is significantly delaying new foreign owned/controlled businesses. |
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