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Thread: Bloomie

  1. #21
    Join Date
    Mar 2009
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    il
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    596

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    I'm going to assume that Cody set it up as a LLC and when he left probably just went back to being a sole proprietorship. Doesn't mean anything other then legal purposes.

  2. #22
    Join Date
    Jun 2015
    Posts
    4,657

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    Quote Originally Posted by 84wedge View Post
    You'll miss him when he's gone.
    Nowadays one would have to get a saws-all and a porta power to get poor Bloomy guy into that car !

  3. #23
    Join Date
    Feb 2020
    Posts
    5,876

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    Quote Originally Posted by reid boys View Post
    I'm going to assume that Cody set it up as a LLC and when he left probably just went back to being a sole proprietorship. Doesn't mean anything other then legal purposes.
    I see . Makes sense

  4. #24
    Join Date
    Oct 2021
    Location
    Podunk City
    Posts
    197

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    Keep in mind that maintaining an LLC (or any corporation for that matter) is legal record with the IRS, the state in which you incorporate and often times...local tax authorities.

    If you're not trading on the corporation/LLC and you keep it active, those authorities will still expect the legally-required annual reports and of course, corporate tax filings.

    Corps/LLCs can be dissolved for a host of reasons, either voluntary or involuntary. The timing of the creation and dissolving of Scott's LLC closely mirrors Cody's time with Team Zero.

    No sense in giving Uncle Sam more than he's due....
    "Ain't it good to be alive and raisin' hell in Tennessee!" - Dusty Rhodes (1988)

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