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Level 1

I have a single member LLC that is now a multi member LLC and new person purchased 50% ownership.

They invested 300K initially and wants payment return by 2023. If payment isn't completed by time frame then he will accept product as compensation for money invested. I'm not sure how I need to set this all up inside of quickbooks. Can anyone give me suggestions as to how this should be done?

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QuickBooks Team

I have a single member LLC that is now a multi member LLC and new person purchased 50% ownership.

Good afternoon, @markco.

 

Thank you for reaching out to the Community. 

 

Before going into detail, each business has a unique setup, so I suggest consulting with your accountant to ensure that your books are accurate. 

 

For more information about the multi-member LLC purchase and set up, you can refer back to this article: Multi-member LLC Purchase and Equity Setup

 

I've included a few more helpful articles as well:

 

If you have any more questions or concerns, please don't hesitate to comment below. Have a safe and productive week ahead!

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