UPDATED: Jun 23, 2009
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
I am forming a new LLC. If I offer my services but take stock instead of cash, am I liable to pay taxes on the stock received?
Asked on June 23, 2009 under Business Law, North Carolina
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
It depends if it qualifies as income at both the state and federal level. Further, is the stock your income or is there income in addition? Are you relying solely on dividends?
Try www.attorneypages.com to locate such an 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.