How to make a distribution from LLC correctly?
Hi everyone,
I live in Phoenix, Arizona and have a rental that is owned by arizona LLC. I have a good problem - quite a bit of cash is sitting in LLC's business account and I would like to get some of that cash out. I haven't done it ever and don't want to take the money out in a wrong way... wanna follow the right procedure legally et cetera... Do I have to pay myself in order to make a distribution? Should I document it in somehow? Can I just get a chunk of cash out?
Thank you