Business Law

Which states do not recognize LLC? Several states have followed suit including Illinois, Iowa, Nevada, Oklahoma, Tennessee, Texas, Utah and Puerto Rico. Some states, like California, do not allow for series LLCs to be formed under state law but series LLCs formed in other states can register with the state and do business in the … Read more

What is the fastest growing industry in Georgia? The fastest-growing sector of the state’s economy will be construction, followed by education and health services, leisure and hospitality, business services, and mining and logging. Read more on news.uga.edu Over the past few years, various industries have helped Georgia’s economy grow significantly, which is a good trend. … Read more

How do I transfer ownership of an LLC in Wyoming? File proper change of ownership paperwork in Wyoming. You don’t need to file a separate form to transfer LLC ownership in Wyoming, but you do need to report the change on your Annual Report. An Annual Report is a yearly update of company information. Read … Read more

Can you gift a business to a family member? You can give cash gifts to an individual family member of up to $15,000 every year without incurring gift taxes, up to a maximum of $11.7 million for 2021. You can also leave the business to family members in your will or a succession plan. Read … Read more

How do I reactivate my LLC in Michigan? To restore a Michigan LLC, you’ll need to file the Certificate of Restoration of Good Standing with the Michigan Department of Licensing and Regulatory Affairs (LARA). You’ll also have to fix the issues that led your Michigan LLC to lose its good standing. Read more on www.northwestregisteredagent.com … Read more

Does EIN have to match LLC? The EIN only has to match the “”name control”” for the company. The name control assigned to a company is normally the first four characters of the name. So, for example, if you formed an LLC and named the company “”Real Estate Venture 1, LLC””, the name control field … Read more

Do I need an operating agreement for my business? Why do you need an operating agreement? To protect the business’ limited liability status: Operating agreements give members protection from personal liability to the LLC. Without this specific formality, your LLC can closely resemble a sole proprietorship or partnership, jeopardizing your personal liability. Read more on … Read more

How do I form a series LLC in Nevada? Step 1: Name Your Nevada Series LLC. Before naming your series LLC, you should know the answers to these questions: Step 2: Choose a Nevada Series LLC Registered Agent. Step 3: File The Articles of Organization. Step 4: Create a Series LLC Operating Agreement. Step 5: … Read more

Can you have a single member LLC in Utah? For most formation purposes, a Utah single-member LLC is considered the same as a multi-member LLC. The steps to form a single-member LLC in Utah are the same as those listed above. Single-member LLCs do have additional flexibility when it comes to filing a tax return. … Read more

Can accounting firms be an LLC? An accounting firm can be an LLC in some states. In others, accountants aren’t allowed to form LLCs. If you can’t structure your accounting firm as an LLC in your state, you may be able to set up a professional LLC (PLLC) or a professional corporation. Read more on … Read more