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Written by : Laverne Ewbank
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hi I'm Brian tudorbenga outdoors where I share with you some of my tips and tricks on how to find great places metal detect do today I'm gonna show you how to find the owner of an LLC so today I want to talk about how to find the owner of an LLC now I'm using the app right now called on X and you can either have it on your phone or on your desktop or both so when I'm trying to find property owners or you know places to metal detect I generally use this app and sometimes I run into a little problem where the owner has an LLC and you can't really find the owners information and you if it's like a company you don't really want to go in there and ask the secretary for the owner they're just gonna ask you well why do you want why do you want to talk to the owner and you can't just tell them well I won't kind of want to meddle to detect a property they're just gonna tell you no so I go right to the source so I use this app to click on the property boundary and it tells me the LLC name so what I do is I will highlight this and copy it so then what you do is you google search Secretary of State Oregon or Secretary of State whatever state you live in and within the first couple pages your Secretary of State website should pop up so what you're gonna do then is should have little tab 4 right here it says Oregon a business name search you're gonna want to click on that tab for your state and what pops up then is a little screen that for me looks like this it's gonna say business name so you're gonna want to copy and paste the name of the LLC go over to search for a business name and this is the only one in Oregon with that name so then you're gonna click on that and it's going to take you to this next page where it's going to have a list of types of associated names so principal place of business this is a business address registered agent and this happens to be named Robert Byrd and we can do with this is you've got the the address to mail mail him a letter if you so choose to or you can look him up on white pages get creative you know look them up on Facebook so this this tells you the name of the property owners so with this you can go right to the source and that's what I like about it so with that said I hope you enjoyed the video please give me a like and subscribe and share this video if you found it helpful I'd really appreciate that alright guys well thanks for joining me on today's episode and I will see you on the next one
Thanks for your comment Shawnna Ellingwood, have a nice day.
- Laverne Ewbank, Staff Member
hi Ellie Phillips here I want to talk today about who owns a limited liability company who owns an LLC and it's a question that I get quite often and it's kind of a whoop duh the owners on the LLC yeah that's true but who are the owners and now I'll see we don't call them owners we don't call them shareholders like we do in a corporation we call them members they're members they're not partners they're our members and those are the guys who own it so who can own the LLC maybe that's a better question the fact of the matter is is it depends upon how the LLC is taxed as to who can own it if it's a single owner taxed as a disregarded entity or a sole proprietorship then you are going to own it now wait wait wait wait maybe we don't want you to own it maybe we want your living revocable trust to own it because if your living revocable trust owns it then your family doesn't have to probate it when you die so in the back of your mind and I'm gonna go fast think when I say you own it no no youyou don't actually own it you're living revocable trust owns it but for practical purposes for legal purposes for tax purposes you are your living revocable trust so if it's one guy one living revocable trust you then you have it taxed as a sole proprietorship and then if you're going to tax it as a partnership you can basically have anybody you want own a partnership interest be a member if it's taxed under subchapter S you've got to follow the subchapter S rules as do owns it the short story is is that subchapter S requires basically that a warm-blooded America citizen owns it now we can get green card holders and we can get a bunch of things but you can't have another LLC or a corporation or another entity owned an interest in an LLC or corporation that's taxed under subchapter S of the IRS code there are very specific rules you can only have a limited number when I started out I think was like 20 yeah sure yeah I think it's more like 150 now that tells you how old I am yes and my phone is on I apologize you've got the hundred and fifty that or whatever it is today that a subchapter S entity can actually have as the owners and they have to be people because the IRS wants to make sure that they can find that person and get that person taxed as an owner or a member of the LLC if it's a taxon under Chapter C of the IRS code that's the same as the C corporation that's the same as IBM Ford all the rest of these guys and you can have as many members or owners as you want you can sell stock on the stock exchange if you register it and do all that stuff so who is the owner of an LLC depends upon how the LLC is taxed generally your gonna be the owner actually you're not your living revocable trust is and that's the way the vast majority of LLC's are set up by the way one one more thing I said that if it's taxed under subchapter S and you may want your little LLC taxed under subchapter S if you are earning earned income you're selling goods or services basically then you want it taxed problem under subchapter S there's some big tax advantages and we talk about those in other videos that we have but can your living revocable trust own the membership interest if it's taxed under subchapter S I just told you that I had to be a warm blooded American citizen and then I told you earlier that you're living a revocable trust for legal and everything else is you so can your trust on the stock the membership interests in the LLC that's taxed under subchapter S the answer is yes if it meets what week if it's a qualified subchapter S trust and it has to meet I think seven criteria basically you have to get all the income from it and it has to be paid out at least annually so if your trust is properly written and meets these criteria then your trust can even own your membership interest in an LLC taxed under subchapter S Lee Phillips talking about who owns an LLC who owns a limited liability company
Thanks husdyrP your participation is very much appreciated
- Laverne Ewbank
About the author
I've studied radiophysics at Winona State University in Winona and I am an expert in socioeconomics. I usually feel full. My previous job was sales floor stock clerk I held this position for 5 years, I love talking about minimalism and live streaming. Huge fan of Lana Del Rey I practice vault and collect books.
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