Business Law

Does a corporation need an operating agreement? Does every business need an operating agreement? Similarly, corporations (S corps and C corps) are not legally required by any state to have an operating agreement, but experts advise owners of these businesses to create and execute their version of an operating agreement, called bylaws. Read more on … Read more

What is an S corporation Florida? An S corporation is simply a Florida corporation that has elected a special tax status. Most Florida businesses elect S corporation status when filing. S corporation status permits the income of the corporation to be passed through to the shareholders. Read more on www.floridaincorporationservice.com Selecting a company entity is … Read more

What is an LLC in Ohio? Pursuant to Ohio Revised Code Section 1706.16(D), a limited liability company is formed when the articles of organization are filed by the secretary of state or at any later date or time specified in the articles of organization. Read more on www.ohiosos.gov If you’re opening a new company in … Read more

Is business address same as registered address? Registered addresses and business addresses are different, but can also be the same. A registered address is an official address that is generally used for legal correspondence and a business address is a location a company uses for general mail ? often the physical address. Read more on … Read more

What often happens when the owner of a sole proprietorship dies? When a sole proprietor dies, all of his assets and liabilities become part of his estate, including the assets and liabilities generated from the business activity. Through a will, the owner can leave assets to a particular individual that allow him to continue operating … Read more

Can a manager open a bank account for an LLC? The managing member should approve (probably in an Action by Unanimous Written Consent) one or more resolutions authorizing the agent to open a bank account. The agent should be given a copy of the resolution(s) as well as the LLC’s charter document (Articles of Organization, … Read more

What is considered personal property for a business in Maryland? Personal property generally includes furniture, fixtures, office and industrial equipment, machinery, tools, supplies, inventory and any other property not classified as real property. Read more on www.marylandtaxes.gov Any mobile item that a company owns or rents is referred to as personal property. It includes any … Read more

What is a purpose clause for LLC in Ohio? The Articles may include the following. The purpose or purposes for which individuals may associate themselves, including for any profit or nonprofit purpose. If no purpose is provided, the purpose of the company is to engage in any for-profit, lawful act or activity for which a … Read more

How do you calculate the rate of dissolution? Read more on www.youtube.com When two or more persons get together to operate a business with the intention of making money, a partnership is created. However, relationships can sever at times for a number of reasons, which results in the demise of the partnership. Dissolution is the … Read more

How do you write an LLC certificate? The certificate should include basic information like the LLC’s name and state it was incorporated in, the number of members and the name of the member that the certificate will be issued to, along with the exact percentage of the company that the member has. Read more on … Read more