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S-Corp Election Question — converting LLC to C-Corp for funding

Started by anon_buyer_CA · Nov 6, 2024 · 524 views · 2 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
AB
anon_buyer_CA OP

Quick background on my situation — any input appreciated.

converting LLC to C-Corp for funding. I've been dealing with this for about 6 months now and the situation isn't improving.

I have already tried to resolve this directly but the other party is not cooperating.

Do I have a strong case? What should my next steps be?

TL
Mod_TermsLaw Moderator

Licensed attorney — a few thoughts. Here's my take on the legal issues.

This is a common situation and the law is fairly clear. Under the relevant statute, actionable.

Before taking legal action, consider sending a formal demand letter. In many cases, this alone resolves the issue.

JC
just_curious_student_TX

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

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