Philip and Deborah form an LLC.Philip contributes $50, 000 capital, and Deborah contributes $75, 000 capital.They do not have an agreement as to how profits are to be shared.If the LLC makes $100, 000 profit in its first year, how will the profit be divided among the members?

Question

Quizplus · Accepted Answer

In the absence of an agreement, profits in an LLC are typically divided equally among members, regardless of their capital contributions.

Philip and Deborah Form an LLC