Keeping Records for your LLC

This may come as a surprise to many LLC members and managers:  Keeping records for your LLC is required under the New York LLC laws.  You have an obligation to keep proper records under §1102 of the New York Limited Liability Company Laws. What Records must be kept in an LLC Specifically, you must maintain … Read More

LLC Operating Agreements

Everything you need to know about the LLC Operating Agreement, explained by New York Small Business Lawyer, Imke Ratschko

LLC, C-Corp or S-Corp you ask?

Ok, I’ll make this quick and dirty.  LLC, C-corp or S-corp for your small business you ask?  I think most small businesses still go with the LLC for the flexibility and to take advantage of the flow through taxation.   Below is a rundown of the main differences.  But be mindful that the recent tax changes … Read More

Legal Mistakes to Avoid in Business Agreements

What goes into an Operating Agreement

An operating agreement is the document that sets forth the rights and obligations of the members of a Limited Liability Company.  Section 417 of the New York Limited Liability Company Law provides that “the members of a limited liability company shall adopt a written operating agreement that contains any provisions not inconsistent with law or … Read More