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Are Coeur d’Alene LLC’s Required to Perform Meetings and Minutes?

No.

Due to the Coeur d’Alene LLC’s lack of legal formalities, this business entity is not required to have annual meetings or record minutes and resolutions. However, it is in these documented meetings, minutes and resolutions that the limited liability and separation of personal and business is protected. Even though Coeur d’Alene LLC’s are not required by law to conduct these formalities, it is a great way for owners to protect their personal assets and avoid major conflict down the road.

Are Coeur d’Alene LLC Profits Paid using Dividends?

No. 

All Coeur d’Alene LLC’s wages, draws or profits will pass-through to the owner(s) tax return, where they will pay self-employment taxes and ordinary income taxes on the total. If you are a sole proprietor all money paid to you will be listed on the schedule C of your personal tax return. However, if you are a partnership then all wages, draws and profits will come on a K-1 form. There is no dividend option unless previously elected to be taxed as a Coeur d’Alene C-Corporation.

S or C-Corporation Elections: While your taxes will change, the facts, ownership, and management structure will not.

Are Coeur d’Alene LLC’s Eligible for IPO Initial Public Offering?

No.

Coeur d’Alene LLC’s are unable to issue shares of stock to shareholders. This make an initial public offering an impossible task. Your company would need to be converted to a Coeur d’Alene C-Corporation to be granted the ability to have multiple classes of stock and an unlimited number of shares Coeur d’Alene  LLC’s lack of legal formalities, this business entity is not required to have annual meetings or record minutes and resolutions. However, it is in these documented meetings, minutes and resolutions that the limited liability and separation of personal and business is protected. Even though Coeur d’Alene LLC’s are not required by law to conduct these formalities, it is a great way for owners to protect their personal assets and avoid major conflict down the road.