The operating agreement for an LLC is imperative because it can outline all the company’s procedural and financial decisions. Although an operating agreement is not required in many states, most limited liability owners create an operating agreement as soon as they create their company. The operating agreement protects owners and sets out anything that has been orally agreed on.
Starting a new business can be scary with all of the legal issues that arise, the taxes one may incur, the fear of losing money invested, etc. To deal with these issues, it is best you consult an attorney to ensure all of your questions are answered and there are no hidden surprises.
Voluntary dissolution is an action taken by shareholders or incorporators to dissolve a corporation. This process is typically initiated by a vote of the corporation’s stockholders. Under a voluntary dissolution, the company will stop to exist as a legal entity.
“Lawyers may practice law in the form of professional service corporations, professional limited liability companies, sole proprietorships, general partnerships, or limited liability partnerships organized or qualified under applicable law.”
If a LLC member is not personally liable for the LLC’s debts, has no authority to contract for the LLC, or does not participate in the LLC’s business for more than 500 hours per year, their income is considered passive, and therefore, not subject to self-employment tax.
After deciding whether to invest in rental properties, it is important to make an informed decision regarding the kind of business entity your company should become.
The first Opportunity Zones were designated on April 9, 2018. To date, the Treasury Department has certified more than 8,700 Opportunity Zones spanning 50 states, the District of Columbia, and five U.S. territories qualifying for the aforementioned tax benefits.
Starting a new business in the US can be intimidating, especially for those that are not US residents. However, starting
A Federal trademark registration will greatly enhance your rights. U.S. trademark rights are created through the use of your mark in commerce, however these use-based rights are just common law rights and only apply to a specific geographic area.
Florida, among 48 states, has adopted its version of the Uniform Trade Secrets Act known as FUTSA. The purpose of the Act is to ultimately protect one’s intellectual property, ideas and certain types of confidential information.
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This is a quick legal reference guide covering 16 topics that every business owner needs to have to start a business
