Adding New Member to LLC

[kmlong]

So, the situation is this:
-2 Member LLC (51% / 49%)
-We are adding a new member so that (51->15,49->45,40)

What is the best way to have this transaction happen? What are the tax implications? The LLC is 2+ years old. The interests were unrestricted (no vesting), so we never filed an 83(b) election. The membership interests for the new member will also be unrestricted. So, I assume not need for an 83(b) election. Let's assume we look for capital later on and they want restrictions on our interests, we can file an 83(b) election then?

Sorry for all the questions! Thanks in advance!

[vangogh]

Welcome to the forum kmlong. I don't have an answer for you since this isn't my area of expertise, but I noticed you hadn't gotten a reply so I thought I'd reply to make the thread active again. Hopefully you see this and reply back. We have a few people here who are very knowledgable about the questions you're asking, but they don't necessarily login every day.

[Twhansbury]

KMLong,
Wish I had a clear answer for you but I can only suggest you run this though the accountant you are using. I know that time of transaction is booked. what is considered in the transaction and also the equity on the books will matter.
It also reminds me of a question I have about the exiting of an LLC.
Best of luck