If I’m opening a small business, do I need to immediately have an existing LLC to close on the purchase of the equipment or can I incorporate after the purchase?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I’m opening a small business, do I need to immediately have an existing LLC to close on the purchase of the equipment or can I incorporate after the purchase?
I will be entering a 36 month lease with the landlord of the building, and purchasing the existing equipment from the current occupants. I want to incorporate into a single member LLC structure. Do I need to have an existing LLC to close or can I incorporate shortly after without any legal hang ups?
Asked on May 15, 2014 under Business Law, Florida
Answers:
Shawn Jackson / The Jackson Law Firm, P.C.
Answered 9 years ago | Contributor
Ideally, yes, you will want the LLC first and the lease to the LLC and not you personally. With that said, most landlords will not just agree to have the lease be under a "new" LLC and will probably require either that the lease be under your personal name and/or that you sign a personal guarantee...and one option is better than the other. I would recommend that you contact an attorney in the State in which you live for a further discussion.
Shawn Jackson - California Business Attorney
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.