Thanks @Rick19744 for the response.
Additional details/answers if that changes your reply at all.
- The LLC isn't being dissolved, liquidated. I'm leaving and Person A is moving the business forward (likely as a single-member/sole proprietorship LLC). So, Person A will be filing the annual tax return next year before the filing due date. I imagine this would mean the EIN wouldn't change, only reflect a different (single member) structure.
- Is there a difference between an initial and annual tax return?
- Does this mean we need to file a final return first (reflecting my leaving of the LLC) then Person A would file an annual return (next year) that accounts for the remainder of 2024?
- We are located in different states. Person A in WA and me in CA. Given the LLC was formed/exists in WA + an amended certificate of formation was not submitted when I joined ...
- is there a need for me to file a CA state return?
- other than specific document changes with the WA Secretary of State (i.e. removing me as a governor), is a final tax return required? Or can Person A just file an annual return next year?
- No cash contributed in exchange for equity interest. I used some personal dollars to expense software subscriptions as a part of exploration, initial testing, etc. But it's such a small amount I'm not seeking reimbursement for it. Hoping that makes things easier from a tax perspective.
