- Jurisdiction
- New Jersey
I will try and make this as short as possible
I was laid off from my job two months ago and a buddy of mine said lets form our own LLC and work towards building our own business. We will not be making money anytime soon as several things are needed first like insurance, a certificate from the state, etc. Two months before we even consider money. So I thought no big deal I mean only $130 to form an LLC and we split the money. I want to see an accountant today and he told me that I need to get my name off the LLC because if I tell unemployment they will take away my unemployment funds regardless of if I am making money. He said if I do not tell them at the end of the year when they run a names check of unemployed people against the forming of businesses they will make me pay back the money I got regardless if we made money or not. He suggested I change it over to my wife name. So I called the state and they said we can do an amendment to the LLC and take me off it and put her on for a small fee. My question is this. If I do that when the state does the search will it not show my name at all like the accountant said? the LLC was just formed 5 days ago. I want to see if anyone has insight about this and my accountant is correct so I do not go through all this for nothing. Sorry I did not see a lawyer thread only a business one.
I was laid off from my job two months ago and a buddy of mine said lets form our own LLC and work towards building our own business. We will not be making money anytime soon as several things are needed first like insurance, a certificate from the state, etc. Two months before we even consider money. So I thought no big deal I mean only $130 to form an LLC and we split the money. I want to see an accountant today and he told me that I need to get my name off the LLC because if I tell unemployment they will take away my unemployment funds regardless of if I am making money. He said if I do not tell them at the end of the year when they run a names check of unemployed people against the forming of businesses they will make me pay back the money I got regardless if we made money or not. He suggested I change it over to my wife name. So I called the state and they said we can do an amendment to the LLC and take me off it and put her on for a small fee. My question is this. If I do that when the state does the search will it not show my name at all like the accountant said? the LLC was just formed 5 days ago. I want to see if anyone has insight about this and my accountant is correct so I do not go through all this for nothing. Sorry I did not see a lawyer thread only a business one.