Business Formation Questions & Answers

Q: My business partner has my money and will not put me on books or share profits

1 Answer | Asked in Business Law and Business Formation for Pennsylvania on
Answered on Dec 7, 2017

Attorneys fees possible but unlikely. Focus on the rest. If you have that much at stake you need a partnership attorney. You need to retain one, get advice as to what you can do to secure the evidence --for instance on the computers--etc. If you are in eastern PA I can recommend someone to you.
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Q: Hi I want to start an LLC but I want to have a three DBAs. What documents do I need to proceed with filing for the LLC?

1 Answer | Asked in Business Formation and Business Law for Georgia on
Answered on Dec 6, 2017

I recommend that a person retain the services of an attorney to organize a limited liability company. While a person is not required to use an attorney, a business attorney can provide valuable advice regarding the legal requirements for formation and operation of the entity. After being properly organized, the entity would need to file a trade name registration for each of the names (other than the LLC name) which it intended to use. The trade name registrations must be filed in the...
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Q: I would like to know the differences between LLC and S corp

2 Answers | Asked in Business Formation for New York on
Answered on Dec 3, 2017

LLC is a pass through entity and has members, all matters generally determined per an agreement between the members. A corporation is a separate entity from its founders and it has shareholders that makes joining and leaving the company generally easier. The decision should be more based on your goals -short and long term- and whether you have any business partners, or whether you seek investors and or prefer to run your own business or rather have employees. This is a very generic answer and...
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Q: Writing an agreement with someone in a foreign company.

1 Answer | Asked in Business Formation and Business Law for California on
Answered on Dec 2, 2017

There are a lot of different types of contracts and each one contains different terms. Is it a master services agreement? A joint development agreement? An employment agreement? Without knowing the type of contract and the terms both sides agreed to, a lawyer cannot advise you. There are just too many options.

I tell people all the time that entering into critical business contracts — whether domestic or international — without legal oversight will cost them a lot more money than if...
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Q: i want to use my name as my website for my music. someone else owns it but not using it. i reached out to them, but...

1 Answer | Asked in Business Formation, Business Law, Copyright and Intellectual Property for New York on
Answered on Dec 2, 2017

You can usually almost always use your name if it is your own name.
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Q: I'd like to purchase a local business, but I want to make sure the person

1 Answer | Asked in Business Formation for Massachusetts on
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.
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Q: How can a General Partnership be dissolved in NYS with an rogue member?

1 Answer | Asked in Tax Law, Business Formation and Business Law for New York on
Answered on Nov 28, 2017

File a final tax return with zero income. Mark it as final. Do a NYS return as well. That is it.
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Q: New york State certificate of assumed name.

1 Answer | Asked in Business Formation and Business Law for New York on
Answered on Nov 28, 2017

Pick one county where you will actually be located.
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Q: New york state Principal place of business in state documents?

1 Answer | Asked in Business Formation and Business Law for New York on
Answered on Nov 28, 2017
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Q: I would like to start my own virtual currency business in California. How can I go about it.

1 Answer | Asked in Business Formation and Business Law for California on
Answered on Nov 26, 2017

First, let me say that this is a very specialized area of the law and most lawyers do not practice in it (in part because there are not a lot of clients.) You may find an attorney with experience in this area, but you could also end up having to pay an attorney to research it for you. Second, a lawyer would need to know more information before properly responding to your inquiry and the response would likely be too lengthy to set out in this forum. For example, some cities/counties have...
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Q: I invested £196k into my business. Expensed from personal account in UK. US account now open. Need to include as capital

1 Answer | Asked in Business Formation, Business Law and Contracts for California on
Answered on Nov 22, 2017

This really does NOT look like a do-it-yourself project. You are talking about £196K. Many businesses would find it prudent to consult an attorney.
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Q: I am in Maryland,My corporation is a Nevada Corporation My finance person is in connecticut We made a verbal or parole

1 Answer | Asked in Business Formation, Business Law, Civil Litigation and Contracts for Maryland on
Answered on Nov 21, 2017

An attorney cannot reasonably answer a question on the validity of a multi-jurisdiction contract without seeing the contract and understanding where the contract is to be performed and where the dispute has arisen.

You are strongly encouraged to consult legal counsel, ideally one skilled with international business law, with questions on the validity of a specific contract.
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Q: Is that possible to an ilegal alien to get a car dealership license or not?

1 Answer | Asked in Business Formation, Business Law, Criminal Law and Immigration Law for Nevada on
Answered on Nov 20, 2017

It is hard to say, since that’s more of a state level issue. Assume that it is unlikely, however.
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Q: I created an LLC. I submitted a 2553 to become an s-corp. What do I do for franchise taxes?

1 Answer | Asked in Business Formation and Tax Law for Texas on
Answered on Nov 17, 2017

If you created the LLC in Texas, the Comptroller's office normally sends a mailer to the registered agent's address with information on how to file franchise tax reports and pay any amounts owed.
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Q: I am the director of a UK Limited company. Under a previous work contract for that company before I moved to the US,

2 Answers | Asked in Business Formation, Business Law and Employment Law for New York on
Answered on Nov 16, 2017

This is a tax question, not a legal one. If you file American tax returns, and there is income, it is supposed to be disclosed on the form. If the stock has no income, there is no declaration. I believe immigration paperwork, if you are looking for citizenship, also requires disclosure.
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Q: If a corporation is sued by an individual from another state, can the court hearings be held in the state where corporat

1 Answer | Asked in Business Formation and Business Law for North Carolina on
Answered on Nov 13, 2017

Its impossible to answer this question without additional information. Corporations are not entitled to have all actions filed against them to be filed in their home state. It will depend on the written contract, if there is one, the type of claim and other factual considerations. You should certainly consult with attorney to determine the best response, but do not ignore it.
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Q: Who pays taxes for the current fiscal year during a small business aquisition?

2 Answers | Asked in Business Formation, Business Law, Mergers & Acquisitions and Tax Law for California on
Answered on Nov 10, 2017

If the terms of the purchase and sale are drafted by an attorney who knows their business, the only thing you will be obligated to pay for are the assets you buy and any debts you agree to assume. If you in fact are going to buy substantially all of the assets of the business then you need to make sure you are properly protected so that both creditors and government agencies do not have a claim against you.

So you need to know what the debts and taxes that are currently owed by the...
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Q: A business was given to my friend and the boss changed her mind and wants it back. Nothing has been signed yet.

1 Answer | Asked in Business Formation, Business Law, Civil Litigation and Contracts for Tennessee on
Answered on Nov 8, 2017

Interesting issues here. Assuming the following.

Your friend had reached an oral agreement to buy a business.

As a result he started actually operating the business including doing some construction work.

The old owner started a new job. - and was out of town. She was to sign papers formally selling the business when she returned.

On social media she published she had sold the business.

She has returned and now wants to keep the business....
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Q: I am a full time high school teacher, according to the law, can I also set up my own company?

1 Answer | Asked in Business Formation and Business Law for California on
Answered on Nov 5, 2017

According to law, your efforts to general income fall under "conflict of interest" However, for more specific advice, consult Atty. of your local jurisdiction for specific advice and guidance as to how you can form an Academy in your own free time.
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Q: "Short term" notice on not renewing lease by the landlord

1 Answer | Asked in Business Formation and Business Law for South Carolina on
Answered on Nov 2, 2017

Seek out a local attorney to review your current lease and advise you of your options. Your lease terms will generally control in extension disputes provided it complies with statutes and common law requirements.

A consultation of this nature should not take all that long or be prohibitively expensive, especially when compared to the cost of moving a restaurant.

**This answer is provided for general information purposes only and is not intended to be legal advice. This answer...
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