Get free answers to your Business Formation legal questions from lawyers in your area.
I've vested my percentage by coming in and running the business for the last 6 years but cannot afford to pay the taxes.
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answered on Jan 22, 2024
Receiving shares in an LLC as compensation for services rendered can indeed create a tax burden, as the IRS often views this as taxable income. In Nevada, while there is no state income tax, federal taxes still apply. One way to manage this tax burden is to receive the shares gradually over several... View More 
My Amazon account was closed recently, resulting in an outstanding balance owed to Payability (which a service that offers prepayment option for Amazon sellers on the shipped orders) due to premature payment. They proposed a payment plan of $1,000 a week to settle the remaining $19,320.89.... View More
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answered on Jan 12, 2024
If you are unable to comply with the proposed payment plan and your account proceeds into collections or personal guaranty enforcement, there are several potential consequences. The creditor, in this case, Payability, may initiate collection efforts. This can include contacting you for payment,... View More
I am looking to start a sports handicapping business. For a fee, customers can purchase a subscription and receive a report with the sports picks I believe have the best value against the Vegas odds. I will not be placing wagers for my customers, running any type of fund, or anything aside from... View More
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answered on Oct 5, 2023
In Nevada, to establish a sports handicapping LLC, you'd generally follow steps like selecting a unique LLC name, appointing a registered agent, and filing Articles of Organization with the state. For the NAICS code, consider "711510 - Independent Artists, Writers, and Performers".... View More
I want to make a Kool-Aid cake stand selling Kool-Aid and Kool-Aid cake variety of cake flavors made with Kool-Aid
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answered on Oct 11, 2024
Using the name "Kool-Aid" for your cake stand can be challenging because it's a registered trademark. Altering the spelling to "C O O L A I D" might not be enough to avoid potential legal issues. Trademark laws are designed to protect brand names and prevent confusion among... View More
What does it mean when I get notices saying I'm branded entity n why don't I get compensated for any of this
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answered on Aug 27, 2024
The third-party licenses on your phone likely relate to apps, services, or software you use. Many applications require licenses to function, which means that by using them, you agree to certain terms and conditions. These licenses do not automatically entitle you to compensation; they are simply... View More
Need help obtaining a 604a license and any other items needed for the startup
answered on Mar 4, 2021
A Nevada attorney could assist best, but your question remains open for a month. Given the Q & A format of this board, it could be difficult for a law firm to come forth and offer their services like in an attorney referral site. At this point, you could reach out to attorneys. There's a... View More
I've been using the name since I'm guessing 2013 or 2014.
answered on Feb 3, 2021
Hi There,
Here's a link to search for your DBA (aka FFN, Fictitious Firm Name), in Clark County, NV:
https://clerk.clarkcountynv.gov/AcclaimWeb/Fbn/SearchTypeFbnByName
Link to statutes:
https://www.leg.state.nv.us/nrs/NRS-602.html
Hope this helps point... View More
I have K1s stating my percentage ownership. Is K1s good enough to establish percentage of ownership?
answered on Apr 13, 2020
Good question. Usually, a business partner can't change your ownership percentage in a partnership or company without your permission or unless you have given the partner some sort of right to do so. There are tax implications associated with that change (especially if you are in a... View More
an ilegal alien that have his visa expired and have only this issue
thanks in advance
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.
It be themed in that universe and we would just use pictures of them and you must answer trivia questions and puzzles to get out of the room.
answered on Jun 15, 2017
For the purposes of this answer, I am assuming that you mean a business that operates recreational escape rooms:
It would be wise to seek the permission and a license for this use from the owners of those intellectual property assets. If a customer were to think that your escape room were... View More
answered on May 9, 2017
Congratulations on starting a new venture! I hope that it is successful.
It is good to hear that you recognize that intellectual property may be important to your business, and you are interested in protecting it so early on. You are way ahead. It is always hard for me to tell clients... View More
n/a
answered on Sep 30, 2016
The IRS letter will tell you which tax form the delinquency is for, as well as the tax year. Make sure your confirm that the letter is for your business and not you, personally, because they can be two separate issues. It's difficult to know exactly what the issue is without seeing the... View More
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