3 ms·
Your legal document has an error. You cannot arbitrarily decide to pay your members (LLC partners) as 1099 contractors. You must follow IRS rules. From reading
by wtn 16y ago
Your legal document has an error. You cannot arbitrarily decide to pay your members (LLC partners) as 1099 contractors. You must follow IRS rules. From reading the rest of the description of your plan, IRS rules will be contrary to your 1099/contractor classification.
- kixxauth 16y agoThe company was chartered under the legal guidance of The Berkman Center, specifically The Vermont Project. We worked diligently through the unique legal formation to be sure it complied with all tax code and SEC laws. There is nothing in our legal agreement that explicitly states we are LLC partners, but rather a member owned and managed LLC under Vermont law. http://cyber.law.harvard.edu/ http://cyber.law.harvard.edu/ http://lawlab.org/digital-institutions/vermont-project/ http://lawlab.org/digital-institutions/vermont-project/ http://cyber.law.harvard.edu/interactive/events/luncheons/2009/10/lawlab http://cyber.law.harvard.edu/interactive/events/luncheons/20... It is a unique and innovative legal formation yes, but not an illegal one.