This is much easier than transferred assets by deed. A chief advantage of the corporate form is the limited liability afforded the owners. However, like a partnership, a properly constituted LLC will be treated as a pass-through entity for federal income tax purposes. No federal tax, and presumably, no state tax, will be imposed on the LLC itself, the members include any income or loss on their own tax returns. The affairs and conduct of the LLC business are governed by an operating agreement among its members.
Ownership is represented by membership interest.
The LLC may be dissolved on the occurrence of certain events such as expiration of a period fixed in the operating agreement, unanimous written consent of the members, or the withdrawal of a member. Colorado State University, U.S. Department of Agriculture and Colorado counties cooperating. Cooperative Extension programs are available to all without discrimination. No endorsement of products is intended nor is criticism of products mentioned.