Business Law

What is a certificate of LLC for SBA loan? The LLC Certificate is the document that is used for LLC’s and the Board of Directors Corporate Resolution is the document used for Corporations. So, if you have an LLC that got an SBA EIDL Loan, then the SBA agent will request an LLC Certificate from … Read more

What is a sole proprietorship in Tennessee? As a sole proprietor, you own all the company’s assets but are also responsible for all debts incurred during the course of conducting business, notes the Tennessee Chamber of Commerce. If you open a business checking account, you are responsible for the account and any penalty fees incurred … Read more

How do I close a business in Delaware? Delaware’s General Corporation Law (“”GCL””) provides for voluntary dissolution through a stockholder vote at a stockholder meeting. Before the vote, your board of directors must adopt a resolution to dissolve, submit it to the stockholders, and call the stockholder meeting to vote on the matter. Read more … Read more

What is the difference between a certificate of formation and articles of organization? While both these terms sound confusing, they are essentially very similar. The Certificate of Incorporation refers to the formation documents of a new Corporation. The Articles of Organization refers to the formation documents of a new Limited Liability Company. Read more on … Read more

Does Pennsylvania require annual reports for LLC? Unlike most states, Pennsylvania does not require LLCs to file an annual report. However, Professional Limited Liability Companies (PLLCs) and foreign LLCs engaged in professional services must file a Certificate of Annual Registration (Form DSCB:15-8221/8998) with the Department of State. Read more on www.nolo.com Many business owners have … Read more

Can the owner of an LLC be paid as an employee? Generally, an LLC’s owners cannot be considered employees of their company nor can they receive compensation in the form of wages and salaries. * Instead, a single-member LLC’s owner is treated as a sole proprietor for tax purposes, and owners of a multi-member LLC … Read more

Do you have to pay for a Maryland LLC every year? Yes, you have to pay a $300 annual report fee each year for a Maryland LLC. Visit our Maryland Annual Report guide for more information. Read more on howtostartanllc.com One of the first choices you must make if you plan to launch a business … Read more

What is the limited liability rule? The limited liability rule states that the shipowner’s or agent’s liability in a marine casualty is merely co-extensive with their interest in their vessel, whereby a total loss of the vessel results in the extinction of liability.[1] In essence, “”no vessel, no liability”” defines the limited liability rule.[2] Read … Read more

Can I use my old LLC for a new business? If you are planning to start a new business and the entity being formed is a Limited Liability Company (LLC) then you will need to apply for and obtain a new EIN. If a new Limited Liability Company has excise tax or employment tax filing … Read more

Can a not for profit be incorporated? Incorporate a Nonprofit When Your Association Makes a Profit from Its Activities. If your nonprofit is already making a profit, or will make a profit, from engaging in its stated activities, your organization could benefit significantly from incorporating. Read more on www.findlaw.com The process of creating a legal … Read more