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Looking at the tax issues here, I would assume you as the remaining partner paid a monetary amount for the other tax partner’s interest you acquired. At the time you purchased other tax partner’s partnership interest the tax partnership terminates (Section 708(b)(1)). Both of you are treated as receiving a deemed distribution of assets.You are deemed to have purchased the other tax partner’s assets. And, you receive a deemed distribution of the assets allocated to you from the tax partnership (Revenue Ruling 99-6). You do not recognize gain on the deemed assets distributed to you unless you receive monies in excess of your tax cost in your partnership tax interest (Section 731(a)(1)). And, you allocate the basis you had in the partnership interest to your assets as noted at Section 732 (b).The sale tax partner treats the funds he or she receives and reports gain or loss on such sale as noted in Treasury Regulation Section 1.741-1(b). You then increase your tax cost in the assets deem acquired by the selling partner reflecting the tax cost you paid for the tax partnership interest (Section 1012).Going forward you report the legal LLC one member disregarded tax entity tax results on Schedule C of your 1040. In addition, you will report the same in California. Of course, you file a 1065 tax return covering unto the termination date following partnership tax law here (Section 708).I have completed the above tax analysis based on primary tax law noted above. If the situations changes any, the tax results may change considerably. www.rst.tax

First of all Marathi and Hindi used same script also there are common sanskrit words which is common in across Bharati language.Script is same but few words are pronounce differently in Marathi and Hindi. Likewise ज्ञ(sound is gya in Hindi and dnya) ,ळ is extra phonetic in Marathi.Hindi is not the same as it was in earlier centuries. Old name was Aawadhi language. It was in the Kalidas period, if you read Hanuman Chalisa, then you can notice that was Aawadhi language. Hindi is new and collective language. British people could not understand the people that time. Because everyone in Bharath, speak different languages and also language change after 50 kms. It was hard time for British so they called the common word to indicate common language for Bharati. After independence Madhya Pradesh, Uttar Pradesh, Uttarakhand, Bihar, Chattisgarh accept it as state language for administrative purpose. Hindi has own dialects in every above state. Even one can not understand each other if they used their pure dialect.Hindi becomes simple language as one can speak with own language words and own style. Same wise Marathi has different dialects from Madhya Pradesh and Gujarat to Goa, Belgaum in Karnataka. Across the Bharath Marathi speak differently. You can see the difference in your own language in your home town or State.Thanks to Chatrapati Shivaji Maharaj who brought back Marathi language in administration and in management. Without their efforts , we would be speaking Arabian , Pushto, Pursian. Thanks to the every Saints who flourished it and made it more beautiful.Marathi is 2000 year old language along side sanskrit. Before 14th century it was Maharashtri Prakrit.The earliest example of Maharashtri as a separate language dates to approximately 3rd century BCE: a stone inscription found in a cave at Naneghat, Junnar in Pune district had been written in Maharashtri using Brahmi script. A committee appointed by the Maharashtra State Government to get the Classical status for Marathi has claimed that Marathi existed at least 2300 years ago alongside Sanskrit as a sister language.Marathi, a derivative of Maharashtri, is probably first attested in a 739 CE copper-plate inscription found in Satara. Several inscriptions dated to the second half of the 11th century feature Marathi, which is usually appended to Sanskrit or Kannada in these inscriptions.The earliest Marathi-only inscriptions are the ones issued during the Shilahara rule, including a c. 1012 CE stone inscription from Akshi taluka of Raigad district, and a 1060 or 1086 CE copper-plate inscription from Dive that records a land grant (agrahara) to a Brahmin.A 2-line 1118 CE Marathi inscription at Shravanabelagolarecords a grant by the Hoysalas. These inscriptions suggest that Marathi was a standard written language by the 12th century. However, there is no record of any actual literature produced in Marathi until the late 13th century.Yadava periodAfter 1187 CE, the use of Marathi grew substantially in the inscriptions of the Seuna (Yadava) kings, who earlier used Kannada and Sanskrit in their inscriptions.Marathi became the dominant language of epigraphy during the last half century of the dynasty's rule (14th century), and may have been a result of the Yadava attempts to connect with their Marathi-speaking subjects and to distinguish themselves from the Kannada-speaking Hoysalas.

Sure, I can address tax issues here as this represents a highly scrutinized tax area. Congress addressed this issue some time ago with Section 385. Under subsection (b), Treasury looks at five factors: unconditional promise to pay at date certain in turn for adequate interest: the related party debt has a preference over other corporation debt; the ratio of debt to equity of the corporation; whether the debt has stock convertibility features; and the relationship between the shareholders stock holdings and debt holdings. Under subsection (a), Congress gave Treasury authority for issuing regulations. Though, the regulations were never issued. Note new regulations do exist in this area for a controlled group of corporations.When an individual(s) own the shares of a corporation and issues funds, we look to the extensive court cases for guidance. The courts have looked at these 13 factors detailed below.Note to readers: I took this 13 part list below from The Tax Advisor 31 January 2103 “Debt vs. Equity in the Tax Court. I have revised the 13 part list slightly for brevity.As I have used this list in the past for advising clients on debt versus equity issues. More importantly, I have used this list as means for showing a client: an individual shareholder holding all or most of the stock in his/her closely held corporation cannot just contribute funds to a corporation and and call it debt when really no lender would consider lending such funds. As, the shareholder has really made an additional capital contribution to the corporation. In these instances the shareholder makes an additional capital contribution and increases his/her cost in the stock for the additional capital contribution (Section 1012(a)).1. Name or label: “The issuance of a stock certificate indicates an equity contribution; the issuance of a bond, debenture, or note is indicative of a bona fide indebtedness” (Estate of Mixon, 464 F.2d 394, 403 (5th Cir. 1972));2. Fixed maturity date: “The presence of a fixed maturity date indicates a fixed obligation to repay, a characteristic of a debt obligation. The absence of the same on the other hand would indicate that repayment was in some way tied to the fortunes of the business, indicative of an equity advance” (id. at 404);3. Source of payments: “if repayment is possible only out of corporate earnings, the transaction has the appearance of a contribution of equity capital but if repayment is not dependent upon earnings, the transaction reflects a loan to the corporation” (id. at 405);4. Right to enforce payments: “If there is a definite obligation to repay the advance, the transaction would take on some indication of a loan” (id. at 405);5. Participation in management (as a result of the advances): “If a stockholder’s percentage interest in the corporation or voting rights increase as a result of the transfer, it will contribute to a finding that the transfer was a contribution to capital” (Hardman, 827 F.2d 1409, 1413 (9th Cir. 1987));6. Status in relation to regular corporate creditors: “Whether the advance has a status equal to or inferior to that of regular corporate creditors has importance in any determination of whether taxpayer here was dealing as a shareholder or a creditor” (Estate of Mixon, 464 F.2d at 406);7. Intent of the parties: “It is relevant whether the parties intended, at the time of the issuance of the debentures, to create a debtor-creditor relationship;The intent of the parties, in turn, may be reflected by their subsequent acts; the manner in which the parties treat the instruments is relevant in determining their character” ( Monon Railroad , 55 T.C. 345, 357 (1970));8. Identity of interest between creditor and stockholder: “If advances are made by stockholders in proportion to their respective stock ownership, an equity capital contribution is indicated. A sharply disproportionate ratio between a stockholder’s percentage interest in stock and debt is, however, strongly indicative that the debt is bona fide” (Estate of Mixon, 464 F.2d at 409);9. Thinness of capital structure in relation to debt: “Thin capitalization is very strong evidence of a capital contribution where (1) the debt to equity ratio was initially high, (2) the parties realized the likelihood that it would go higher, and (3) substantial portions of these funds were used for the purchase of capital assets and for meeting expenses needed to commence operations” (id. at 408);10. Ability of corporation to obtain credit from outside sources: “If a corporation is able to borrow funds from outside sources at the time an advance is made, the transaction has the appearance of a bona fide indebtedness. If no reasonable creditor would have loaned funds to the corporation at the time of the advance, an inference arises that a reasonable shareholder would likewise not so act” (id. at 410);11. Use to which advances were put: “A corporation’s use of cash advances to acquire capital assets suggests that an advance is equity. Use of an advance by an ongoing business to expand its operations, e.g., by acquiring an existing business, suggests that the advance is equity. (Laidlaw Transportation, Inc., T.C. Memo 1998-232 at *79);12. Failure of the debtor to repay: “The failure of a corporation to repay principal amounts on the due date indicates that advances were equity” (Laidlaw Transp., T.C. Memo. 1998-232 at *80); and13. Risk involved in making advances: “A reasonable expectation of repayment by the provider of an advance when the advance is made suggests that the advance is debt” (id. at *82). LIST END.So, the courts have worked at ferreting out disguised capital contributions from true debt. If the shareholder issues additional funds to the corporation with no real terms for repayment, the shareholder is better served calling it equity.I have completed the above tax analysis based on the fact situation.As noted above, I took the 13 numbered list from the above referenced Tax Advisor article. If the fact situation changes any, the tax results may change considerably. www.rst.tax