Some people seem to suggest that it is always better to form a multi member LLC (more than one owner), rather than a single member LLC. These people base their opinion on the fact that the so called charging order protection may not be available in a single member LLC. What is a Charging … Read More
…do not make a match formed in heaven. New York City does not recognize s-corporations and makes all s corporations liable for its General Corporation Tax to the tune of 8.85%. Thus, in NYC, an LLC is often the better and more tax friendly alternative for new business owners. If it weren’t for the costly publication … Read More
Nonprofits are businesses that made it their mission to give away all of their profits to a particular cause, rather than enrich the owners of the business. Starting a nonprofit organization is in many ways like starting any other small business in New York. But there are additional steps required in order to get the … Read More
Having all the right kind of contracts in place at the beginning of a business venture manages expectations and prevents conflicts with your business partners, customers, vendors, landlords…you get the idea.
Thus, I present you with a list of the most commonly needed agreements for any business startup:
I am a big believer in bootstrapping and DIY, especially when it comes to starting a business. One, you don't have much money to waste, and two, knowledge is power. Thus, before you pay some incorporation service to essentially operate a fax machine for you, you may as well do it yourself all the way … Read More
Many small business owners end up deciding between a New York S corporation and a New York limited liability company (LLC) when choosing a formal legal structure for their New York business. Both entities offer limited liability and a startup friendly tax treatment. But which entity is right for your small business? The following are … Read More
As you may know, there are naming rules (Section 204 NY limited liability company law) when it comes to choosing a name for your LLC. Most names are o.k. if not already taken by somebody else, but some terms are tricky and require special dispensation. For example, try filing articles of organization for this LLC: … Read More
