Can any person or entity own an interest in an LLC?
Yes. Generally, any legally recognized “person” may own an interest in an LLC except a professional LLC where ownership rules are restricted to licensed practitioners. The question is then what is the definition of a “person”? The definition includes, any may be slightly different from state to state, individuals, partnerships, domestic or foreign corporations, trusts, business trusts, real estate investment trusts, estates, and other associations or business entities. It is common to see a single member LLC owned by an LLC taxed as a partnership or an LLC taxed as a partnership operating a business to be owned by another LLC taxed as a partnership. Consult with your legal professional for guidance in this area.
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- Can any person or entity own an interest in an LLC?
