Unlocking Your Business Potential
What is an operating agreement for a business? An operating agreement is a key document used by LLCs because it outlines the business’ financial and functional decisions including rules, regulations and provisions. Once the document is signed by the members of the limited liability company, it acts as an official contract binding them to its … Read more
Why would an LLC be denied? A request for a certificate of good standing can be denied for several reasons, including: Failing to pay a registration renewal fee. Failing to file a required periodic document, such as an annual report or renewal form. Failing to pay various types of state business taxes or fees. Read … Read more
Do I need to renew my LLC Every year in NJ? After you form an LLC in New Jersey, you must file an Annual Report every year. You need to file an Annual Report in order to keep your New Jersey LLC in compliance and in good standing with the state. Read more on www.llcuniversity.com … Read more
Does an LLC protect your personal credit? A business lien against the assets of an LLC is recorded against the business credit report of the LLC, not against the personal credit report of individual members. Read more on smallbusiness.chron.com A common company structure for entrepreneurs and small business owners is the Limited Liability Company (LLC). … Read more
Can you contract with a business name? Can the business name enter into contracts? This is incorrect ? a business name confers no legal status. You need to keep in mind that it is the legal entity behind the business name (that is, the entity that has registered the business name) that has the legal … Read more
How do I close an LLC in Maryland? To dissolve your LLC in Maryland, you file Articles of Cancellationwith the Maryland State Department of Assessments and Taxation (SDAT) by mail, fax, or in person. If you use the Maryland SDAT form, you have to type or print your information in ink. You don’t have to … Read more
Can I switch back from S Corp to LLC? Depending on the state in which the business is incorporated, changing the status from an S corporation to an LLC might only require one form sent to the secretary of state designating the switch. In other states, the LLC might have to merge with the S … Read more
What is a LLC and authority? A statement of authority is a simple method for third parties to verify that the person purportedly binding the company is authorized to do so. Members and officers of an LLC may gain other protection by filing a statement of authority that merely directs inquirers to the LLC agreement. … Read more
Do I have to register my foreign LLC in California? California’s LLC Act requires foreign LLCs to register with the state of California if they are transacting business within the state. When a business has a physical presence in the state, it must collect sales tax on its sales to residents of that state. Read … Read more
What is business legal name? The legal name of a business is the official name of the person or entity that owns a business. If you are the only owner of your business, then its legal name is simply your full name. Read more on www.nolo.com A legal business name is one of the most … Read more