In a nutshell, assuming you had a single member LLC before the sale, you now have a partnership after the sale. Therefore, the single member LLC is closed/dissolved, and a new multi-member LLC is formed. Dealing with this "CORRECTLY" is important. Especially if your state taxes personal income. I highly advise you seek the services of a tax professional for this year. Mistakes can be (and will be) costly later down the road. The cost of mistakes will make the cost of professional help seem like a pittance in comparison. So please, seek professional help for this year. THe cost of professional help may also qualify as a business deduction in the newly formed partnership/multi-member LLC also.
