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Do You Need a Lawyer to Form Your Corporation?

While it is possible to form a corporation without the help of a corporate lawyer, it is important to keep in mind that the steps involved can be complex and the legal ramifications of losing corporat...

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What Are Seller’s Permits?

The requirements to register and obtain a sales tax permit or resale permit vary widely from state to state: in a majority of states, businesses dealing in tangible products for retail sale (or rental...

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Managing an LLC

A limited liability company may be managed however you like. When you set up a limited liability company or LLC, you create an operating agreement that will determine the management structure of the c...

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Steps You Can Take to Preserve Your LLC Status

You want to make sure you maintain the distinction between yourself and your business' not always easy in a small business' but it is an important distinction if you want to limit your personal liabil...

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Dissolving a Partnership

If you are operating in a partnership, then you have a right to dissolve it under the Uniform Partnership Act, which has been adopted in or influenced by the partnership law of almost every state....

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Steps Involved in Setting Up a Partnership

Setting up a business partnership is generally a straightforward process. Two types of business partnership exist: the general partnership and the limited liability partnership. Both types of partners...

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Do You Need a Partnership Agreement?

When setting up either a general partnership or a limited liability partnership, drafting a partnership agreement is a must. While it is legally possible to create a business partnership without a par...

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Expelling a Minority Partner from the Business

If there is an agreement or a term in an agreement (such as the shareholders agreement) allowing majority owners of a corporation to force the minority holders to sell at a predetermined price (or a p...

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Taxing a Limited Liability Company (LLC)

One of the main advantages of a limited liability company, or LLC, rests in how the IRS treats the business under tax rules. Usually, an LLC is taxed as a partnership or a sole proprietorship, which m...

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Does an LLC Have Shareholders?

A limited liability company (or LLC) is not a corporation, but rather a hybrid business entity. It combines the advantages of a partnership and a regular corporation. Even though an individual must fi...

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Reasons to Form a Limited Liability Company (LLC)

A limited liability company (LLC) is a hybrid organization that has characteristics of both a corporation and a partnership. Its members, comparable to corporate shareholder, receive interests in the...

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What You Need to Start a Business

Since the recession took hold of the economy, many misplaced workers have decided to become entrepreneurs and start their own business. To start a business, you should have a solid understanding of th...