FAQs

JV LLC is registered with the State of Texas and IRS

JV LLC Bank Account is opened for business

JV LLC Operating Agreement is signed by shareholders

JV LLC Shareholders have access to all documents

JV LLC Shareholders vote on all major decisions

JV Managers are paid fees as approved by members

Each JV LLC Shareholder is also loan guarantor

Managers are responsible for managing the JV LLC as per the Operating Agreement

Taxes are filed every year

Shareholders receive K-1s to assist in their tax filings

JV LLC is dissolved after property is sold

LLC Structure protects personal property and assets from inside liability (lawsuit on the LLC)

LLC Structure protects LLC property’s assets from outside liability (lawsuit on a member)