Hello,
I am looking for some help regarding potentially starting a DAO as a barter exchange. The context we do not think we will do over 100 transactions in a year, and we do not think our payments to each member will be over $600 per year.
I am not a lawyer or tax advisor but from what I have gathered is that if we operate under these conditions, no 1099 or 1099-MISC is required. However, I want to have some liability protection. This led me down the LLC wrapper route, but if I form a partnership, then K-1s come into play. All of this has led me to the LeXpunk DAO Charter Wrappr.
If we did not become a LLC and used LeXpunk DAO Charter Wrappr, does this eliminate the need for K-1s?