Business Law

Can you pierce the veil of an LLC? A court will pierce the veil only if a failure to do so will result in an injustice. This requires more than evidence that a creditor will not get paid. It requires evidence that the corporation or LLC was used in some way to perpetrate a fraud … Read more

What is a California S corporation? An S corporation is a corporation that elects to be taxed as a pass-through entity. They do not pay federal income taxes. They’re limited by the types of owners (shareholders) and cannot exceed 100 shareholders. A separate bank account and separate records are required with this form of business. … Read more

Who is considered an agent of a business? Specifically, an agent is someone who has the legal right to act on behalf of another person or business, referred to as the principal. Such agents might be hired to negotiate or deal with third parties. Read more on www.upcounsel.com There are numerous responsibilities and titles that … Read more

Does LLC have to be in the name in Georgia? A Georgia LLC is created by filing Articles of Organization with the Georgia Secretary of State Corporations Division Corporations. The articles must include: the LLC’s name, and. the signature of an organizer, member, manager, or an attorney-in-fact. Read more on www.nolo.com Limited liability corporations (LLCs) … Read more

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