Business Law

Husband and Wife LLC: Is it a Partnership?

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Is a husband and wife LLC a partnership? Note: If an LLC is owned by husband and wife in a non-community property state, the LLC should file as a partnership. LLCs owned by a husband and wife are not eligible to be “”qualified joint ventures”” (which can elect not be treated as partnerships) because they … Read more

Can You Write Your Own Articles of Association?

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Can you write your own articles of association? custom articles of association. If a company uses model articles of association, they’re given unlimited powers by default. However, if shareholders or the board of directors want to put restrictions on what the company has the power to do, they can write their own articles. Read more … Read more

Splitting Ownership of an LLC: Everything You Need to Know

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How do you split ownership of an LLC? Ways to Divide Ownership of an LLC. Percentage ownership: LLC owners can also divide their ownership by percentages. For example, an LLC owned by spouses might split ownership 50-50. Or in a three-member LLC, one member might own 60% of the LLC while the other two own … Read more

Can You Have an LLC Without a Business?

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Can you have an LLC without a business? An LLC requires registering with the state and filing the appropriate forms. But even though you don’t need a business license to form an LLC, you probably need one to operate the LLC as a business. Read more on www.legalzoom.com One of the most common types of … Read more

Understanding Operating Agreements and LLCs

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Does sole proprietor have operating agreement? Sole proprietors don’t need operating agreements, but partnerships may choose to create one. Although they are not legally mandatory, Entrepreneur.com recommends partners create an agreement, because it will define the legal and personal operating rules. Read more on smallbusiness.chron.com Business owners who are sole proprietors run their companies as … Read more

Does Nebraska Require an Operating Agreement LLC?

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Does Nebraska require operating agreement LLC? Every Nebraska LLC owner should have an operating agreement in place to protect the operations of their business. In addition to being legally required by the state, an operating agreement will set clear rules and expectations for your LLC while establishing your credibility as a legal entity. Read more … Read more

Does an LLC Have a Board of Directors?

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Does an LLC have a board of directors? Limited Liability Companies (LLCs) are a fairly recent development and most experts consider them a “”hybrid”” of a partnership and a corporation. An LLC is not required to have a Board of Directors, but can adopt this form of management if the members (the owners of the … Read more

Certificate of Organization PA: What You Need to Know

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What is Certificate of Organization pa? The Certificate of Organization PA is a document that contains important information about your company and filing this document is a requirement to form your LLC in Pennsylvania. Read more on www.upcounsel.com You must submit a Certificate of Organization to the Pennsylvania Department of State if you plan to … Read more