I'm interested in bringing on a partner (for his development abilities) for a site I'm working on.
I already have an LLC and would prefer to keep this site under that LLC. Then, I'd offer in a percentage of ownership in the new site.
His concern is that in the event the site is acquired, he'd take an additional tax hit (personal income tax)...effectively doubling his tax liability.
So, is there any way around him having such a big tax liability?