Get free answers to your Business Formation legal questions from lawyers in your area.
I have a Social Business Idea that has a few ways to be monetized and I don't want to be completely limited by the Non-Profit sector. I want to file for incorporation but don't know what Umbrella a Social Enterprise falls under.
answered on Apr 27, 2018
The answer partially depends on what you're trying to accomplish: If the proposed purpose is solely benefit-related, without the desire or need to assign profits or owners/shareholders/members, then you're probably in (traditional) non-profit corporation territory. Alternately, you may... View More 
Hi,
I live in Boston, and I'm about to start a consulting firm, an LLC. My first customer is in Norway. Should I form an LLC in MA or in Delaware? since my business is purely international.
answered on Jan 5, 2018
You should register it in MA as you are a MA resident. There is no tax advantage in being a DE LLC if you are the sole member of the LLC and reside in MA. Moreover, if you have a dispute and want to engage the MA courts, you will have to register the DE LLC in MA to do so and the cost will wind-up... View More
I'm buying it from doesn't turn around and start a competing business right away - what's the best way to handle this?
answered on Dec 1, 2017
A non-compete agreement as part of the purchase is one way to address that. You should have an attorney represent you in your purchase of the business to ensure that the documents reflect your intentions.
i had work done on an bb gun and told them to limit it to a price of 200 $ and i had to pay 241 and it didn't work so i told them to take there parts out and give me my money back due to faulty parts
answered on Oct 24, 2017
If they do not comply sue them in small claims court. I assume you can document the instruction and read whatever you signed with respect to the repair.
I started an online business as a hobby which has now been producing income. Do I have to register my business even though I have no employees? Will I be penalized for producing income without being a registered business? I appreciate your help with this situation. Thank you.
answered on Oct 11, 2017
There are both legal and tax implications to consider when engaging in business. You should consult with both an attorney and accountant to discuss the specifics of your business so they can properly advise you.
I was wondering who I should contact or just to go through small claims court in regards to a travel agency that promised to refund me and is giving the run-around as to why they can't refund me, after already promising to do so. Any information is greatly appreciated.
answered on Aug 29, 2017
If you signed a contract with the travel agency (most likely for your original transaction, not the refund), that contract may contain a provision regarding consent to jurisdiction and governing law. If that provision exists, contact an attorney in the state described in that provision.
If... View More
If I am an equity partner in a company incorporated in EU, and that company wants to
1. wants to loan money to a company in US, is that possible/legal?
2. wants to open a bank account in US without incorporating in US, possible? How do I get a tax ID?
3. wants to pay me... View More
answered on Jul 20, 2017
A EU company depending upon the jurisdiction it is incorporated can loan money to a US corporation. The Amount of money that is required to be withheld will depend upon the tax treaty as well as the amount of tax it is required to pay to the US. The foreign entity will need to apply for and... View More
The business meets all the qualifications of IRC 1244. I need to know if anything should be filed and with whom to offer the 1244 protection to investors. Also, I need to know what documentation should be retained and ultimately delivered to my investors if a loss is generated.
answered on May 4, 2017
To The Code also imposes recordkeeping requirements on the corporation relative to its §1244 stock. Among these is requirement that the corporation designate designation, for its transitional year, those of its outstanding shares that qualify for small business stock treatment.
(b)Common... View More
By placing an LLC into a Trust can the members receive their dividends on a monthly, quarterly or yearly basis?
answered on Apr 25, 2017
Placing an LLC in a trust does not change when the LLC wants to make distributions and that is determined by the Manager and/or the Members of the LLC. The Trust can provide for distribution of funds on a monthly quarterly or annual basis. It depends how it is drafted. The reason to put a LLC in a... View More
Am I still able to use it in my state?
answered on Jan 18, 2017
Yes. If the name is not used or reserved at the MA secretary of state <https://www.sec.state.ma.us/cor/corsearch.htm>, you can use the name. If the name is already trademarked at the federal level, however, you would be better advised to pick a different business name or some modifier that... View More
answered on Dec 12, 2016
Have a look: http://www.mass.gov/eohhs/docs/dph/environmental/foodsafety/residential-kitchens-faq-sheet.pdf
The best first step is an Initial Consultation with an Attorney. You can read more about me on my law practice website. This answer does not constitute legal advice; make any... View More
answered on Jul 6, 2017
Living in one State but forming an LLC in another State isn't the appropriate question to be asking...the right questions have more to do with whether your business has enough of a "nexus" of activity in the non-organizing State to require qualification in the non-organizing State.... View More
I'm completing the (MA) Articles of Entity Conversion of a Domestic Other Entity to a Domestic Business Corporation. The LLC has a sole proprietor who wants the corporation to have one share of stock. The new owner/stockholder is President, Treasurer, Secretary, and Director.
answered on Jul 6, 2017
If I can assume that by, "with one share of stock" you're also suggesting that you're the Sole Shareholder of the (current) corporation, and will be the sole Member of the (new/prospective) LLC...then yes. You are the only party with relevant authority over what restrictions... View More
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
