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New York Business Formation Questions & Answers
4 Answers | Asked in Contracts, Real Estate Law, Tax Law and Business Formation for New York on
Q: Hi, I've put my apartment on Airbnb and curious how I should split the profit with my boyfriend.

I got the apartment(lease) by my self and lived there for a year by myself, I put down deposit, I paid a guarantor fee every month, decorated and bought all the furniture, I am doing all the daily maintenance of the Airbnb account and finding cleaner, photograper etc. My boyfriend moved in a year... View More

Carl Nelson
Carl Nelson
answered on Feb 28, 2023

From a practical perspective (which is what it sounds like you are asking), an appropriate way to split income from the unit would be to first deduct all expenses and then to split the net income according to proportions of rent paid.

So first you would deduct all of the fees and costs...
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1 Answer | Asked in Business Formation, Business Law and Contracts for New York on
Q: I have to pay for other shareholders salary?

I own 25% of a business, a shop, in a 3 people partnership. If i were to no longer go in and offer manual labor but still keep the 25% I understand contributing 25% of the business expenses. But they say I have to also pay them them a salary based on how much percentage of the company they own. Is... View More

Samuil Buschkin
Samuil Buschkin
answered on Feb 14, 2023

Hello. It does not sound like a situation for you to remain in. As for your question, it is not entirely clear what you are asking. You may want to speak with a lawyer because there will undoubtedly be issues requiring clarification. That said, business ownership does not have to go hand in hand... View More

1 Answer | Asked in Real Estate Law, Business Law and Business Formation for New York on
Q: To move my personal NY real estate license into my LLC, does my LLC have to be incorporated within the state of NY?

I am a licensed real estate salesperson in New York State. I am forming an LLC for various reasons, and would like my broker to pay my commissions to my LLC, which is allowed in the state of New York. My two primary questions are:

1. Does my LLC have to be incorporated within the state of... View More

Daniel Michael Luisi
Daniel Michael Luisi
answered on Jan 1, 2023

Article 12-A of the New York Real Property Law, Section 441-b, provides:

"In case a person licensed individually as a real estate broker thereafter becomes an officer of a corporation or a member or manager of a limited liability company or a member of a co-partnership an application...
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1 Answer | Asked in Business Formation, Business Law and Intellectual Property for New York on
Q: Do I need any business licence or resale licence to drop ship on Shopify or Amazon FBA?
Daniel Michael Luisi
Daniel Michael Luisi
answered on Dec 28, 2022

Some of the licenses and permissions you need include the following: (1) Certificate of Authority by New York State Department of Finance to collect sales tax: (2) Resale Certificate [if applicable] from Dept of Finance; (3) You must file quarterly Sales Tax Returns Form ST-100; (4) There are other... View More

1 Answer | Asked in Employment Law, Copyright, Business Formation and Business Law for New York on
Q: If there is no written employment agreement, is the work for hire doctrine still valid? Is the employer still the author

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Daniel Michael Luisi
Daniel Michael Luisi
answered on Dec 18, 2022

If you were an independent contractor as opposed to an employee, the work for hire doctrine wouldn’t apply absent a signed writing to that effect executed by both parties to the contract. However, whether you would be considered an “employee” for the purposes of copyright law is not as simple... View More

2 Answers | Asked in Business Formation, Business Law and Securities Law for New York on
Q: can I have legal liability by sharing financial statements from another location with an investor
Tim Akpinar
Tim Akpinar
answered on Dec 24, 2022

It could depend on what your capacity is, as an officer, fiduciary, etc. This is posted under "Uncategorized." It sounds like something that attorneys who practice in Business Law, Securities Law, Business Formation, and confidentiality agreements would have insight into. Some questions... View More

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1 Answer | Asked in Business Formation, Business Law and Copyright for New York on
Q: If I sell bootleg ebooks on platforms like Etsy and Amazon that I have no legal rights of doing so,will I be facing any

If I sell bootleg ebooks on platforms like Etsy and Amazon that I have no legal rights of doing so,will I be facing any criminal charges from the government?

State NY

Daniel Michael Luisi
Daniel Michael Luisi
answered on Nov 29, 2022

You will likely be subject to a copyright infringement and/or counterfeit account ban and because you seem to have no licensing documents from the rights owners. Because you are apparently doing this knowingly, you will likely be permanently banned from these platforms without much of a chance of a... View More

1 Answer | Asked in Business Formation and Immigration Law for New York on
Q: Can I start a business, register to E-Verify and work on a side startup while maintaining my full-time job on STEM OPT?

Hi, I'm a current Post Completion OPT employee and am in the process of applying for my STEM OPT extension. My OPT and STEM OPT extension are based on my full-time employment in the US.

My question is: Can I start a business of my own, register to E-Verify and work on a side start-up... View More

Giselle Ayala Mateus
Giselle Ayala Mateus
answered on Nov 18, 2022

E-Verify is for Established US Employers. You OPT only allows you work for a US employer. This could be interpreted as working without authorizarion. You should get legal counsel first.

2 Answers | Asked in Business Formation, Contracts and Business Law for New York on
Q: Made an investment of $10k (with a total of $40k-$50k with other investors). business dissolved and told I get nothing?

The business was never operational. Expenses we’re very minimal & no debt was accrued. I know some goes to taxes, but I get absolutely nothing back?

Michael David Siegel
Michael David Siegel
answered on Nov 17, 2022

Depends on what your deal was, and what an accounting would show. Very hard for $10,000 to make something happen here. You can sue, but it would cost a high percentage of the recovery unless others joined. For $10,000 you can do a small claims case in NYC, and see if anything shakes out.

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1 Answer | Asked in Contracts, Business Formation and Business Law for New York on
Q: i want to connect wholesalers to retailers in exchange for commission

I am trying to connect a wholesaler who sells products to a retailer who will resell that product online and I would receive Commission on the the profit that each of them make that each of them makev Do I need a special license for that and where would I find more information on the laws about... View More

Daniel Michael Luisi
Daniel Michael Luisi
answered on Nov 8, 2022

Unless you are selling highly regulated products such as chemicals or pharmaceuticals I don’t see that you would need any special license. What you need is a strong contract drafted by an experienced attorney to ensure your commission, along with a business strategy to prevent the wholesalers and... View More

1 Answer | Asked in Business Formation and Business Law for New York on
Q: Majority shareholder sues minor shareholder and the company- can minor shareholder accept service on behalf of company?

Plaintiff owns 75% of Company A. Defendant owns 15% of Company A. (So a third party owns the remaining 10%.) Plaintiff sues both Defendant AND Company A. The lawsuit seeks to dissolve Company A.

Two questions:

Defendant can obviously accept service on behalf of themselves, but... View More

Michael David Siegel
Michael David Siegel
answered on Sep 9, 2022

A shareholder, just by being a shareholder, cannot accept service. Service must be on an officer or director, or the registered agent. A minority shareholder can fight the dissolution, or demand a buyout based on the value of the corporation as determined by a court. The procedure is in the... View More

2 Answers | Asked in Business Formation, Business Law, Internet Law, Copyright and Trademark for New York on
Q: I have a DBA in NYC (advertising, marketing agency), and want to sell one of our services from a website for just that

Am I protected from having my new site's logo/idea/branding infringed upon?

The new name will be listed as a project of mine/my DBA on both websites.

Samuil Buschkin
Samuil Buschkin
answered on Aug 1, 2022

A d/b/a (doing business as) is simply an alternative trade name for a business. Different states have registration requirements for DBA's. A trademark protection or copyright protection are an entirely different issue. There is a process underlying the registration of a trademark or a... View More

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1 Answer | Asked in Tax Law, Business Formation and Business Law for New York on
Q: Can I create a NY LLC with an out of state LLC as the single member?

I own a single member LLC in Wyoming but now live in New York. I’d like to create a newer NY LLC subsidiary with the out of state LLC as the parent company. Is this allowed?

Michael David Siegel
Michael David Siegel
answered on Jun 2, 2022

Yes.

1 Answer | Asked in Business Formation and Business Law for New York on
Q: Planning on starting a business delivering a variety of Tobacco products sold in stores so people don’t have to move.

Had a couple questions to avoid any legal issues!

Toshinori Isoai
Toshinori Isoai
answered on Dec 4, 2021

Your specific questions need to be provided. Tabaco products (business) may fall into several categories that can be highly regulated.

1 Answer | Asked in Business Formation and Business Law for New York on
Q: I sold back business in 2020 with a non compete for 5 years. I’m in a situation where I would like to start another one

Would starting a new business in the same field violate my non compete? And if so, what is the penalty?

Michael David Siegel
Michael David Siegel
answered on Aug 6, 2021

First, no one could answer this without seeing the terms of your agreement. Second, even if you had a solid defense, another issue is whether your old company would sue you in any event.

1 Answer | Asked in Contracts and Business Formation for New York on
Q: Can I open my llc (I am a psychotherapist) in New York with a P.O. Box address from UPS?

I am a licensed LCSW. I want to start a private practice. I am trying to form an LLC for my business. Can I use the postal address that UPS provided me (which is a street address) as my address for starting this LLC, or do I need a physical address? I will not be conducting in-person therapy,... View More

Michael David Siegel
Michael David Siegel
answered on Aug 3, 2021

What most people do is use the physical address of the UPS Store, and call your box number your "suite". Just work it out with the owner to put that mail in your box.

1 Answer | Asked in Tax Law, Business Formation, Business Law and Small Claims for New York on
Q: Good morning can anyone assist me on getting my 2020 taxes return from my accountant I can’t reach her she’s not reply

She has been doing my taxes for a few years now i call and text her about my situation ,but she doesn’t answer me , she move her office out east in Long Island New York , I’m trying to buy a house and I need my taxes information from her to get my Mortgage qualify

Michael David Siegel
Michael David Siegel
answered on Jul 2, 2021

You can report her to the State licensing board, and see if they can help. You can order your return or a transcript of it from the IRS.

1 Answer | Asked in Contracts and Business Formation for New York on
Q: I was given a business. The business does not charge for services. The clients sign up on the website for service.

I need to make sure the contract is legally binding and I am becoming owner of said business.

I am on SSI & SSDI as my income.

The business is strictly a website type business.

Tim Akpinar
Tim Akpinar
answered on Jun 17, 2021

I'm sorry your question remains open for two weeks. The format here is usually quick general questions, which is why it could be difficult to get a response to review a contract. You could use the "Find-a-Lawyer" tab above to reach out to attorneys or search independently online.... View More

1 Answer | Asked in Business Formation for New York on
Q: I am interested in starting an e-commerce business and I am in Niagara County, NYS.

I am starting an online metaphysical shop selling crystals, incense burners and other merchandise. I’m wondering what forms I need to fill out to create a business name, if I should go sole proprietor or LLC, are there any resellers permits I need? And any other information that might help me.... View More

Toshinori Isoai
Toshinori Isoai
answered on Apr 2, 2021

It appears that you are going to start your own business. Answers to many, if not most, of our preliminary questions can be found online. Your entrepreneurial commitment may require a good amount of your time for research and verification of information.

4 Answers | Asked in Trademark, Copyright, Business Formation and Intellectual Property for New York on
Q: Broke dad trying to help broke college daughter file for a trademark

My daughter is an artist, photographer, craftswoman, woodworker and a very creative person. She has been selling by word of mouth. She creates and re-purposes many different items putting her flair on them and is attempting to build a brand. She came up with a "company" name and wants to... View More

Steve Charles Vondran
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answered on Dec 4, 2020

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