Setting up LLC with a partner

[Stefan Arapovic]

Hi guys, would opening an LLC when investing with someone would be a way to go? We go in the deal75-25 but I would be in control. So would that be an option? Deal is in Ohio and its my first one so I would appreciate advice.

[Tanvir Sattar]

Hi Stefan. I would divide ownership of the LLC by calculating total cash investment by the members. Give each member an ownership stake equal to his cash investment. Two members contributing $25,000 apiece would each receive a 50 percent stake in the company.