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Vinay Vasanji
@vinayvasanji.eth
If you issue a SAFT as an LLC, how do you account for the investment an accredited investor makes? Is it an asset or income on your accounts? How does it impact the K1?
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KMac🍌 ⏩ ツ
@kmacb.eth
@ethlawyer might know
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Rob Leonhard
@ethlawyer
More of a CPA question. I think it would come down to the language of the SAFT. Does the LLC get to pocket the capital regardless of whether it delivers anything? Then it might be income. Does the LLC have to return a portion of capital if it doesn’t launch a token by a certain date? Then the SAFT might be a liability. Does the LLC consider itself a service provider, independent of the DAO entering into the SAFT? Different outcome altogether. (This is all hypothetical and incomplete speculation and in no way constitutes legal, financial or accounting advice)
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