In a forced sale situation, do they coop entities transfer the share and proprietary lease willingly?
Ok so I'm currently on an F2 visa (dependent visa in the US) I opened my business which is an LLC but as im applying for a tax application in florida for the business i'm not sure whether to file it for a S-Corp or a C-Corp. Due to the fact that technically I'm not allowed to work in the US.
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answered on Nov 13, 2023
Selecting between a C-Corp and an S-Corp tax status for your LLC is a significant decision, especially considering your F2 visa status.
Generally, F2 visa holders are not permitted to engage in employment in the U.S., and this includes active management of a business. While owning a... View More 
My name is Janina G., my small business name is ‘janinasdiycrafts’. I currently sell handmade goods as a hobby, I haven’t made enough money to register it as a business. (Still in the hobby tax bracket) my questions is do I need to register it as a sole proprietorship in Florida since it’s... View More
answered on Oct 17, 2023
There is no registration with the Florida Secretary of State's Office for a sole proprietorship. However, since you are doing business other than your own name you need to comply with Florida's Fictious Name Statute.
In Florida, Section 865.09 of the Florida Statutes requires the... View More
I am currently starting a notary business to work with my local title companies. I have future plans to start a bookkeeping business as well. I thought about starting a holding company and running the bookkeeping and notary business as subsidiary companies. If I purchase Errors and Omissions... View More
answered on Sep 17, 2023
It depends on the policy, but yes it can. Be very clear when applying for the policy that you want it to cover affiliates of the named insured and their employees and officers.
The equipment belongs to the owner and was bought with his personal funds to take advantage of using credit to purchase such equipment. Since the LLC is new it doesn’t have any credit to purchase equipment with. The idea would be for the LLC to lease the equipment from its owner, pay monthly... View More
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answered on Sep 14, 2023
Yes, a newly formed LLC can lease equipment from its owner, who is also the sole proprietor, and structure it as a lease with an option to purchase. However, it's essential to document the arrangement clearly in a formal lease agreement to avoid any potential legal issues down the line.... View More
The previous question I asked was intended to apply to Florida not California. The scenario would apply to partial funds from 501(c)3 donors used to purchase a home in Baja California which is Mexico over 25 years ago while the majority was used to purchase from "own" private funds.... View More
answered on Aug 16, 2023
Yes, when a non-profit corporation is dissolved, the assets covered by the asset-distribution clause applies to real property such as that in Mexico. It's essentially a matter of federal law, so it doesn't much matter whether the non-profit was incorporated in Florida, California, or elsewhere.
I report the dealership to the DMV. The DMV advised to file a complaint with the dealership insurance bond company. I followed instructions. I was served and the insurance company is suing me and 4 other defendants. They stated myself and the 4 defendants will have to split a $25,000 bond. Any... View More
answered on Jul 10, 2023
You want to know why you are being sued. The complaint which names you as a defendant should indicate why. If it doesn't, consider moving to dismiss.
Performing Arts Theatre. Live shows. Educational and Community.
Where would I find the procedure if this is a possibility.
answered on Jul 3, 2023
It is very difficult to function as a nonprofit and also as an LLC. The essential nature of an LLC is that the money left over at the end of the year gets distributed to the members, who are essentially the owners of the LLC. The essential nature of a nonprofit is that nobody is allowed to get the... View More
I assigned the lease agreement and already paid my deposit, but had an emergency and I can’t move anymore. Can I bring my deposit back? I don’t move in yet I just paid and assigned the lease.
answered on Jun 30, 2023
No, Normally you can't get a refund of your deposit. You signed the lease and paid the deposit; the deposit is for the purpose of protecting the landlord if you change your mind.
I recently sold my business. The asset purchase agreement signed by both parties states neither party can disclose details of the transaction for 3 years after closing. I want to share details of the business I sold (such as closing price, terms, EBITDA, brand) with a business broker. The reason... View More
answered on May 31, 2023
It is not likely that the agreement could be interpreted to prohibit you from sharing the terms with an attorney under such circumstances; and the fact that you do so would probably be confidential in any case. Run your dilemma by an attorney with experience in such matters to determine, first, if... View More
Local Tax Exempt Organization IRS 501(c)(3) - how should a Board of Directors be constructed? I am worried about losing control of entity. What defensive measures can be instituted to prevent loss of voting control? I am the founder of the entity. This will be a big entity someday- tremendous... View More
answered on May 2, 2023
You ask a question that many founders of nonprofits ask. And lawyers who work with nonprofits inevitably deal with the situation that you fear: a board of directors who develop a different view of the direction to take the organization than the founder's view, resulting in strife and board... View More
answered on Apr 12, 2023
If you have stock certificates, you can do it by signing an Assignment Separate From Certificate, attached it to your stock certificate, mark cancelled on the stock certificate and issue a new certificate in the new owner's name.
607.0626 Shares without certificates.—... View More
We share a business currently 20-80 cut. 20% me, and I’d like to sell them my home for a 65% cut of the business to make it 65%/35% new terms
answered on Mar 13, 2023
Yes provided the mortgagee agrees to the assumption of the mortgage. Try to get a release from the Mortgagee for future obligations under the mortgage. You will have to transfer the home by a deed recorded with the County Clerk and pay documentary stamp taxes on the balance of the mortgage... View More
I would like to consult with a business lawyer who has experience in the above matter. The business will be registered in FL.
This online business is an Online Platform that will be a database with Offshore workers' information from Europe and Asia.
On the other side... View More
answered on Apr 1, 2023
You are posting in the Q&A forum. If your goal is to hire an attorney to provide legal services, you may want to search the directory and reach out to a few attorneys directly. Good luck!
My mother in law retired and she moved to El Salvador she wants us to take over her morgatge and she wants us to keep the house and pay for it , but how can we protect our selves from her not trying to get her house back in a future ?
answered on Mar 7, 2023
You would ask her to give you a deed to the property. Be sure to ask the mortgage lender to agree, so as not to trigger the due-on-sale clause of the mortgage.
My start up company involves animal training and education. I registered as an LLC initially, but recently other business owners have been recommending that I switch to an S Corp. I was told that I would be better protected. Could you please define the differences between the two, pros and cons,... View More
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answered on Mar 3, 2023
For your purposes, LLC is easier and provides the same advantages, if not more, than an S Corp.
Here is what an AI robot says (I do not agree with No.1 under "disadvantages." )
Advantages and disadvantages of LLC over an S Corp.
Limited Liability Companies (LLCs)... View More
answered on Feb 23, 2023
Yes, you should register as a DBA, but I would additionally say it is simple enough and you should consider possibly just creating an LLC as well, it looks more professional for a business and if you discuss with an attorney, they can explain how it can create additional potential liability... View More
It is important to know what Treaty Florida uses to sell land.
answered on Feb 7, 2023
Hi, there is more information needed to answer this question properly. The State of Florida can acquire properties in foreclosure for unpaid taxes and other surplus lands pursuant to the Murphy Act. Please provide additional information.
Former and Current Board Members Are Posting on Web Sites [NOT ADMINISTERED BY THE BOARD] about the Corporation Internal Affairs, Including, but Not Limited to []- NEXTDOOR []- ORLANDO TRILOGY RESIDENTS (CASCADES/GROVELAND RESIDENTS, PAST AND PRESENT) []- OFFICIAL CASCADES OF GROVELAND RESIDENTS... View More
answered on Jan 29, 2023
Interesting issue, which I don't have expertise in, but my somewhat-educated guess is: Regarding the issue of disclosure itself, without regard to whether it causes damage to the corporation, the answer to your question may depend on whether your corporation has a written confidentiality... View More
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