Legal Question in Business Law in Illinois
How long does an LLC need to hold onto old job jackets once they are processed and billed. The jackets contain our quote, the customers purchase order and job file etc. Thanks
Asked on 12/20/13, 9:21 am
1 Answer from Attorneys
For income tax purposes, or for legal purposes? Taking the long view, being legal purposes, a customer has 10 years to sue on a written contract. If it is for construction, however, it may depend on what the issue is and could be as long as 14 years. So if it's not related in any way to construction, 10 years and a day minimum, and if it is construction related (including planning, supervision, design as well as actual construction work) figure 14 years and a day minimum.
Answered on 12/27/13, 11:51 am
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