Business Law

Can you form an anonymous LLC in Colorado? Simply defined an anonymous LLC is a limited liability company whose members are not publicly identifiable. By not disclosing to the Colorado Secretary of State ownership information, owners are able to maintain their privacy. The state of Colorado does not require members of an LLC to be … Read more

Does an S Corp have to have an annual meeting? The “”S corp”” distribution allows shareholders to balance “”pass through”” income with deductions due to current losses or losses apportioned over a period of years. S corps meet specific requirements set by the Internal Revenue Service but must also meet state requirements to hold meetings, … Read more

What do I need to open an LLC bank account in Florida? Get documents you need to open a business bank account Employer Identification Number (EIN) (or a Social Security number, if you’re a sole proprietorship) Your business’s formation documents. Ownership agreements. Business license. Read more on www.sba.gov In order to properly manage your finances, … Read more

Selecting the appropriate company entity is one of the initial decisions you must make when starting a business, which may be a difficult undertaking. Due to its tax advantages and restricted liability, a S company (S Corp) is the best choice for some business owners. However, you must comprehend the rules and specifications of the … Read more

Can you use a PO box for an LLC in Michigan? As per Section 450.4207, your LLC’s Registered Agent must have a physical street address located in Michigan. A Michigan Registered Agent address can’t be a PO Box address. Service of Process for an LLC includes the delivery of legal documents such as complaints, summons, … Read more

Is Apple an LLC? Apple is a Public Limited Company, found by Steve Jobs and Steve Wozniak in 1976, which design, develop and sell their goods worldwide and operate in telecom and technology industry. Apple’s other goal is to remain the most dominant brand for technology. Read more on www.cram.com Steve Jobs, Steve Wozniak, and … Read more

Why would an LLC be Cancelled? An LLC is “”SOS Canceled”” when done by the California Secretary of State for failure to pay filing fees to the State. The LLC will continue to exist as an active entity for the sole purpose of winding up the business. Winding up may entail paying off the LLC’s … Read more

Does Illinois recognize S corps? While Illinois does recognize the federal S election, it nevertheless requires Illinois S corporations to pay the personal property replacement tax at a rate of 1.5% of net income, and, as Illinois corporations, the annual corporation franchise tax. Read more on www.nolo.com Understanding the many business entities that the state … Read more

Does Maryland require an operating agreement? Every Maryland LLC owner should have an operating agreement in place to protect the operations of their business. While not legally required by the state, having an operating agreement will set clear rules and expectations for your LLC while establishing your credibility as a legal entity. Read more on … Read more

What happens when LLC is forfeited? A forfeited corporate entity loses its right to operate in that state. In California, for example, the corporation can’t defend against a lawsuit or enforce its contracts, and loses the right to its business name. It still has to pay any taxes or fees it owes the state, though. … Read more