Business Law

Is my LLC ACS or P? If your LLC files Form 1065 to report business income, check the “”Limited Liability Company”” box on Form W-9 and write “”P”” on the classification line. Read more on smallbusiness.chron.com The use of limited liability companies (LLCs) is growing among business owners. This is primarily because it provides its … Read more

Can LLC sell interest? If you are a single member LLC, you have the right to sell your interest(s) for any amount you name. But if you’re an LLC with multiple members, there may be rules in the Operating Agreement that set the value of the LLC. Read more on www.upcounsel.com A limited liability company … Read more

How long does it take to set up an S corp in NY? How long does it take to form an S Corporation? After settling the formation fee of $195 and completing the requirements, you can legalize your corporation within 24 hours. However, necessary documents to prove the existence of your company usually arrive in … Read more

What states allow series LLCS? Some states allow you to form a series LLC and other states don’t. Other states that have a series LLC option include Alabama, Arkansas, Delaware, District of Columbia, Illinois, Indiana, Iowa, Kansas, Missouri, Montana, Nevada, North Dakota, Oklahoma, Puerto Rico, Tennessee, Texas, Utah, Virginia, Wyoming. Read more on www.thebalancesmb.com Certain … Read more

What is the owner’s title of an LLC? Owners of an LLC are commonly referred to as members. If a manager is hired to run the LLC, that person is often called a member-manager. While not as common, corporate titles can be assigned to members, such as President, Founder, Chief Financial Officer (CFO), or Chief … Read more

What is the difference between a manager-managed LLC and a member managed LLC? In a member-managed LLC, the owners have collective control over company decisions. A manager-managed LLC places management authority in the hands of a professional manager or one or more elected members. This choice goes to the heart of your company’s day-to-day operations, … Read more

Why is LLC dissolved? It is usually the result of failing to either comply with state law or file an annual report. The power of the Secretary of State, however, is broad, and in many states, an LLC can be dissolved for nearly any reason the Secretary deems fit. Read more on www.score.org The prospect … Read more

How long does it take to set up an LLC in Kentucky? How long will it take to form my Kentucky LLC? If you order the Basic or Standard package, we will file your paperwork with the Kentucky Secretary of State within four to five business days and you’ll receive your completed LLC documents one … Read more

What is dissolution partnership? Partnership dissolution refers to the termination of a partnership as well as the cessation of its various business activities. Read more on www.lexology.com A frequent type of company organization when two or more people join forces to run a firm is a partnership. However, partnerships can end for a number of … Read more

How do I create multiple LLCs? Ways to structure multiple LLCs Run both businesses under one LLC using a DBA. Say you already have an LLC but you want to branch out to another service or focus area under the same niche. Create separate LLCs for each business. Create a Holding Company with separate LLCs … Read more