I have posed the same questions to my CPA recently and am awaiting his response.....

My brother and I have a 50-50 LLC (taxed in IL as partnership) set up currently conducting agricultural sales and construction activities.

Questions???

1) An issue at hand is bringing in another owner (brother) resulting 1/3 ownerships for each. How can it be accomplished the fastest and simplest with little/no cash outlay by him? He should have been giving ownership from the start 4 years ago. The current 50-50 owners are not concerned about how it financially affects them in this case.

2) Can this same LLC legally be an owner of two additional LLC’s currently in operation, of which us 3 are currently each 1/6 owners in personally?

3) Can this LLC legally be a shareholder of a Family Corporation of which we do not currently have personal shares in? We will each have shares in the near future.

4) What would be benefits to paying owners in form of guaranteed payments as opposed to an owner draw currently being done?

In the end, us 3 brothers would like to efficiently bring together several individual ownership %'s in LLC's under one parent LLC's ownership (or holding company?) if it can be done. Additionally, we would like to have this parent LLC be a shareholder in a family corporation with a buy-in strategy. Under this one LLC (currently the 50-50 one.....hopefully the 33/33/33 one) we would pay out wages/guaranteed payments/draw to the three owners. We are not opposed to structuring as a corp in the end/or taxing the LLC as a corp. Thanks.