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AC Form 8050-1 And LLC's
- Thread starter jmbrwn
- Start date
Your name
Your name and title.
Your name and title.
Jesse
Well Known Member
It depends on whether the LLC is member managed or manager managed. If it is member managed, then put member. If manager managed, then out manager. You will also need an LLC document sent with it that says how it is managed. I had an application delayed 6 months because of this one time.
Email me and I can send you a sample LLC letter.
Email me and I can send you a sample LLC letter.
For the AC 8050-1, for "type of Registration", as an LLC, did you simply check off the box for "Corporation"?
My 8050-1's have checkboxes for 1. Individual, 2.Partnership, 3.Corporation, 4.Co-Owner, 5.Governent, 8, Non-Citizen Corporation, 9. Non-Citizen Corporation Co-Owner.
I have a sole-member USA-Based LLC, so guessing I should check Corporation since there's no box for LLCs.
Is that correct?
My 8050-1's have checkboxes for 1. Individual, 2.Partnership, 3.Corporation, 4.Co-Owner, 5.Governent, 8, Non-Citizen Corporation, 9. Non-Citizen Corporation Co-Owner.
I have a sole-member USA-Based LLC, so guessing I should check Corporation since there's no box for LLCs.
Is that correct?
My thoughts exactly.
For partnerships, it may give some liabilty protection to partners not flying at the time of an accident.
In some states it may prevent triggering sales taxes if partner(s) sell or buy shares to others.
Jesse
Well Known Member
This is one of the main reasons I have seen for using an LLC.
jmbrwn
Well Known Member
