What state are Face Foundrie's limited liability company laws under?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company is structured as a limited liability company ("LLC") under the laws of the state of Minnesota. Accordingly, the income or loss of the Company will be included in the income tax returns of the members. Therefore, there is no provision for federal and state income taxes.
Face Foundrié Franchising LLC (the "Company") was formed on April 14, 2020 in the state of Minnesota as a limited liability company and provides beauty services with an all-inclusive focused facial bar.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the company is structured as a limited liability company (LLC) under the laws of Minnesota. This means that the legal framework governing the formation, operation, and dissolution of Face Foundrie as an LLC is based on Minnesota state statutes. Face Foundrie was formed on April 14, 2020, in the state of Minnesota as a limited liability company.
For a prospective franchisee, this is important because the franchise agreement and the relationship between the franchisee and Face Foundrie will be interpreted under Minnesota law. Any legal disputes or issues related to the franchise agreement may be subject to the jurisdiction and legal precedents of Minnesota.
Furthermore, because Face Foundrie is an LLC, its income or loss is included in the income tax returns of its members, and there is no provision for federal and state income taxes at the company level. This pass-through taxation structure is a common characteristic of LLCs and can have implications for the financial management and tax obligations of both Face Foundrie and its franchisees.