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A comment on After September 1, 2023, all Gfycat content and data will be deleted. Parent comment

Re:After September 1, 2023, all Gfycat content and data will... by lsaferite on Sunday July 02, 2023 @09:19AM (#36561236)
Any multi-party LLC I've been part of, and it's been more than a few, has provisions about tax liabilities and allowed the LLC to forcefully pay them. Additionally, LLCs rules would control equity holde payouts, and provisions around equity liquidation.
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Re:After September 1, 2023, all Gfycat content and data will... by grepfru_it on Sunday July 02, 2023 @11:26AM (#36562307)
LLC rules do not apply during bankruptcy. Equity holders are unsecured in bankruptcy, employee salaries and secured debts have a higher priority.

You can have provisions about tax liabilities, but that is a specific risk that must be mitigated in an LLC that a corporation does not have to deal with, thus it’s an added risk

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