Business Formation Questions & Answers

Q: What are the state & federal rules & regulations for a residential cleaning business in NJ?

2 Answers | Asked in Business Formation and Business Law for New Jersey on
Answered on Apr 21, 2018
Leonard R. Boyer's answer
No one on this forum, is going to do the research for free to answer your question. This will require a paid legal consultation with an experienced business attorney. Pick the best lawyer you can find and remember one rule: a good lawyer is generally never cheap, and a cheap lawyer is generally never good so don't choose based on price.
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Q: Hi There ! My question is that if I buy a business worth $250,000 and have 5 employees. Can get GC using this?

1 Answer | Asked in Business Formation and Immigration Law for Arizona on
Answered on Apr 20, 2018
Carl Shusterman's answer
You may be able to qualify for an E-2 visa if your country has a treaty with the US which permits this.

However, you would not qualify for a green card. See below:

EB5 – stands for employment based 5th preference immigrant visa category. This visa category is allocated to foreign investors with the Congressional intention to stimulate U.S. economy. Program EB-5 represents a unique opportunity for foreign investors (“FN”) to U.S. permanent residency (“green cards”)...
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Q: In an LLC, can members be anonymous to othwr members?

1 Answer | Asked in Business Formation and Business Law for Indiana on
Answered on Apr 20, 2018
Benton R Patterson III's answer
An attorney would need to review the LLC operating agreement. It may be easier to multiple business entities to mask the owner's identify. You should speak with a local business attorney.
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Q: Can I legally set up an online private exchange for the stocks of a family owned company?

1 Answer | Asked in Business Formation, Business Law and Mergers & Acquisitions on
Answered on Apr 20, 2018
Benton R Patterson III's answer
This is likely subject to SEC regulation. You should speak with a securities lawyer before setting up a share exchange.
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Q: My friend and I want to open a join business account. We will be opening it with a DBA but I'm concerned about banking

1 Answer | Asked in Banking, Business Formation and Business Law for Texas on
Answered on Apr 20, 2018
Benton R Patterson III's answer
Generally, a contract is only binding on the parties who sign the contract. If the bank is not a party to the contract, it does not have to follow it. You and your business partner can contractually agree to limit the money each of you can withdraw from the account. However, you would not be able to enforce the contract against the bank because the bank is not a party to the contract.
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Q: Can a Financial Institution in Michigan add "Forced Place Insurance" on an Auto loan in light of the Wells Fargo suit?

1 Answer | Asked in Business Formation, Consumer Law and Insurance Bad Faith for Michigan on
Answered on Apr 20, 2018
Adam Alexander's answer
If your auto loan has a provision permitting forced-placed insurance it is likely legal and enforceable. Did you let your insurance policy lapse? Or did you not carry the minimum amount of coverage called for in the contract? If so, the CU may be able to force it. I would have to read the contract to give you a definitive response, but the Wells Fargo case involved forced-placed insurance on unsuspecting homeowners where the act was not allowed by the mortgage language. The escalation of...
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Q: If I self sponsor an H1B for a new company I am starting with my US partner, would it be part of the annual quota?

1 Answer | Asked in Business Formation and Immigration Law for California on
Answered on Apr 19, 2018
Carl Shusterman's answer
The H1B is one of the most popular employment-based Visas in the United States. It is for foreign nationals with a Bachelor Degree (or an equivalent foreign degree) that are coming to the U.S. to perform services in a specialty occupation. A specialty occupation is one that generally requires the attainment of a Bachelor Degree.

The H1B Visa requires the sponsorship of a U.S. Company. However, after years of uncertainty, the USCIS now accepts H1B petitions filed by a U.S. Company formed...
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Q: We are bring sued by a DC firm with Heroes, Inc. Our non profit is Carroll County Heroes Foundation. Nowhere the same.

1 Answer | Asked in Copyright, Products Liability, Business Formation and Trademark for Maryland on
Answered on Apr 19, 2018
Mark Oakley's answer
Have they actually filed suit (in which case, you are being sued), or did they merely send a threatening letter? I doubt you are in actual legal jeopardy of losing the word, “Heroes”, from you company name or losing a damage suit in court. My guess is that they are trying to scare you into giving up the word. A lot more goes into tradename infringement than one word, unless it’s a unique brand name like “Google.” Have a lawyer respond with a letter that your use of the word is not an...
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Q: If I own an investment company IBC in Belize under a nominee director and shareholder, am I a CFC? (View details)

1 Answer | Asked in Business Formation, Business Law and Tax Law for Florida on
Answered on Apr 18, 2018
Andy Wayne Williamson's answer
This is way too complicated a situation to be answered via this type of forum. You need to hire a tax attorney or accountant to review this situation and give you specific advice.
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Q: A friend and I opened a company with 50-50 owner ship.

1 Answer | Asked in Business Formation, Contracts and Business Law for Kentucky on
Answered on Apr 17, 2018
Timothy Denison's answer
You’re going to have to hire a lawyer to protect you. If the business is a sole proprietorship, the taxes should be paid by the sp before any profits are distributed. If there is a deficit, you each owe 1/2 the deficit. If it is a Partnership or corporation, similarly, the p or c should pay the taxes before the money is distributed.
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Q: Business agreement question

1 Answer | Asked in Business Formation and Contracts for Kentucky on
Answered on Apr 17, 2018
Timothy Denison's answer
If you don’t renew in 2020, send him a demand letter for the 100k. If he doesn’t pay, you may have to file suit to collect your loan.
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Q: When the business you own is an LLC - is the LLC required on all signage, logo's, etc.

1 Answer | Asked in Copyright, Business Formation, Intellectual Property and Trademark for Kansas on
Answered on Apr 17, 2018
Benton R Patterson III's answer
If you want to conduct business under anything other than the legal name of the business, you will need to register an assumed name, which is different than a trademark. You are not required to trademark any aspect of the business name or branding. Although it can be very beneficial to do so. The decision will come down to how you use the logo and/or slogan, how valuable that branding is to your business, and what other businesses do. I recommend speaking with a trademark attorney in a...
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Q: What is a registered agent and do I need one in Maryland to legally form a business?

1 Answer | Asked in Business Formation for Maryland on
Answered on Apr 16, 2018
Mark Oakley's answer
Yes. If you organize a business in the state, the business must have a registered agent with a Maryland address (business or residential) to receive legal process and official government notices. The agent can be any person over 18, including the person organizing the business (you), so long as they have a physical address (not a PO BOX) in the state. If you do not have an address in the state, then you will need to find someone who does who will act as the registered agent. There are...
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Q: I owned a hosting company called BombHost. It was a MC and Website Hosting Company. Then someone says they made it. Help

1 Answer | Asked in Business Formation and Business Law for Pennsylvania on
Answered on Apr 13, 2018
Carrie A. Ward's answer
You need to retained experienced Pennsylvania counsel to assist you with this. What is this third party claiming? Do they have an attorney involved? You need experienced counsel to protect your business.
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Q: California Suspended Corp name - not mine - can I take it over? Or do I need to purchase from current owner?

1 Answer | Asked in Business Formation and Business Law for California on
Answered on Apr 11, 2018
Jason Brooks' answer
During suspension, a business loses its rights, powers, and privileges to conduct business in California. The business also loses the right to use its business name in CA. This means that you could register with the suspended or forfeited business’ name, and the name would then belong to your business and the original business owner would then need to register a new business name before it can revive its business.
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Q: What happens if I discover I've named my business something that already exists? Does that mean I can't register for a

1 Answer | Asked in Business Formation for New York on
Answered on Apr 7, 2018
Michael David Siegel's answer
It depends. Try and register and see what happens. If New York State accepts it, you are OK on registration. Then, there might be a trademark issue.
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Q: Is it required to purchase insurance during the business formation process?

1 Answer | Asked in Business Formation for New Jersey on
Answered on Apr 6, 2018
Leonard R. Boyer's answer
Some things are just prudent to do whether or not they are legally required. Business formation should only be done with the assistance of an attorney who knows the corporate structures and can help protect both you and your business from all sorts of problems.
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Q: How do my husband and I create a 2 person member LLC for a rental property?

1 Answer | Asked in Real Estate Law, Business Formation and Business Law for Ohio on
Answered on Apr 5, 2018
Joseph Jaap's answer
An Ohio LLC can be created on-line with the Ohio Secretary of State. But you should retain a local attorney in OH to discuss setting up and operating the LLC properly and property ownership. You also should consult your tax advisor regarding the different options that can be elected for federal income taxes and other tax issues, including OH state taxes. Those depend on your particular tax situation. Use the Find a Lawyer tab to consult a local OH attorney where the property is located.
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Q: Do businesses who have tenants living above them have to be quiet after a certain time?

1 Answer | Asked in Business Formation and Landlord - Tenant for Missouri on
Answered on Apr 5, 2018
Salim U. Shaikh's answer
As detailed in your question, you may get help from police the moment there is a loud speaker used for music during night (normally start from 10 pm). Secondly, formally write to your LL to either control such nuisance interfering in your tranquility .... the basic essence of tenancy ... or else should arrange for your move out at a suitable place to be borne by LL.
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Q: Board members of a company are banning another board member(equal owner) from company meetings and votes.

2 Answers | Asked in Contracts, Real Estate Law, Business Formation and Business Law for Pennsylvania on
Answered on Apr 4, 2018
Carrie A. Ward's answer
A review of the company's governing documents is necessary. You should engage experienced PA counsel to review the documents, analyze the facts of the situation, and to provide further guidance, which may or may not include litigation based on the specific facts of the situation.
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