Lawyers, Answer Questions  & Get Points Log In
New York Business Formation Questions & Answers
1 Answer | Asked in Employment Law, Immigration Law and Business Formation for New York on
Q: My brother who has a greencard, has an llc with no other employee. With my opt, can I work in his llc?
James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 10, 2024

Based on the information provided, there are a few important considerations:

1. As an F-1 student on Optional Practical Training (OPT), you are allowed to work in the U.S. as long as the employment is related to your field of study. The work can be for any employer, including an LLC owned...
View More

2 Answers | Asked in Business Formation, Business Law and Contracts for New York on
Q: Problematic business partner

Our LLP was established in January 2023. Unfortunately, we're facing financial constraints, and while other partners are willing to inject more capital to sustain the business, there is one partner refuses to invest further. what options are available to the other partners?

Samuil Buschkin
Samuil Buschkin
answered on Jan 9, 2024

There are several issues that appear to be related to your question: (a) are the partners united or are their interests and positions in some way opposed to one another, (b) is it an LLP or an LLC ? Either way the Partnership Agreement or the Operating Agreement, respectively would need to be... View More

View More Answers

3 Answers | Asked in Business Law, Tax Law and Business Formation for New York on
Q: I have formed an LLC and now I need to open a PLLC. Can I use the same EIN to form the PLLC.
James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Dec 31, 2023

When you transition from an LLC to a PLLC (Professional Limited Liability Company), it's important to understand the specifics of business entity formation and tax identification. Typically, an LLC and a PLLC are considered separate legal entities, each with its own set of legal and tax... View More

View More Answers

2 Answers | Asked in Business Formation and Business Law for New York on
Q: How should I figure out the best way to set up bookeeping/taxes for my PLLC providing psychotherapy? Too many options!

It took the state a year and a half to process the PLLC paperwork. Meanwhile, to pay the bills, I did contract work (1099) through other businesses. Now that's the bulk of my income. Since that's already taxed, it's hard to know how to set up bookeeping.

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Nov 4, 2023

When setting up bookkeeping and tax structures for your PLLC providing psychotherapy, it's beneficial to consult with a certified public accountant (CPA) who is experienced with healthcare professionals and small business accounting. They can provide tailored advice on how to integrate your... View More

View More Answers

1 Answer | Asked in Business Formation and Business Law for New York on
Q: Is there a deadline or timeframe to file an Amended Certificate of Incorporation for a Non Profit in New York State
Damien Matthew Bosco
Damien Matthew Bosco
answered on Oct 12, 2023

There is no deadline to file an amendment.

A not-for-profit corporation may amend its Certificate of Incorporation from time to time by filing a Certificate of Amendment under Section 803 of the Not-for-Profit Corporation Law.

The document may contain any of the information that may...
View More

2 Answers | Asked in Criminal Law and Business Formation for New York on
Q: Is there any responsibility for encouraging people to write fake positive reviews and invent their own work experience?

Is there any responsibility for encouraging people to write fake positive reviews and invent their own work experience? All this was said by a person live.

Tim Akpinar
Tim Akpinar
answered on Sep 24, 2023

Addendum - If the work experience involves certain positions that are strictly regulated by the government and the employment involves the safety and well-being of others (pilots, healthcare workers, commercial mariners, etc.) and the inventing of work experience is along the lines of inventing... View More

View More Answers

1 Answer | Asked in Estate Planning, Tax Law and Business Formation for New York on
Q: What is the best way for a Trust to own a corporation & can that corporation be an LLC or S corp?
T. Augustus Claus
PREMIUM
T. Augustus Claus pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Aug 21, 2023

In New York, a trust can own a corporation through strategies such as creating a holding company or a subsidiary structure. In a holding company approach, the trust establishes a corporation that owns shares of another corporation (LLC or S corp). Alternatively, a subsidiary structure involves the... View More

3 Answers | Asked in Business Formation and Business Law for New York on
Q: Do I need to form a PLLC vs an LLC if I am Physical Therapist looking to start my own practice in NY?

I formed an LLC already. Unaware after reading some websites that licensed professionals are supposed to form a PLLC but I wanted to confirm if that is true.

Samuil Buschkin
Samuil Buschkin
answered on Aug 13, 2023

In New York, professional licensees of certain type cannot practice together with non-licensed people, making the regular LLC not an acceptable way to organize the company. Those filing the PLLC must be licensed to practice the occupation in question, and the company must be managed by those with... View More

View More Answers

2 Answers | Asked in Business Law and Business Formation for New York on
Q: Hello,Volunteers are painting a mural- raising money, and need liability insurance. What type of entity should we be?

A small group of community volunteers have been given permission to paint a mural in the community. The building belongs to a local business and they need us to have some type of liability insurance. To get the insurance (and to smooth out the non profit fundraising), we think we need to be some... View More

Tim Akpinar
Tim Akpinar
answered on Jun 26, 2023

It could be difficult for anyone here to know what kind of insurance coverage is best, based on the type of business entity you contemplate going with. That's something an insurance agent may be better equipped to advise on. One option might be to reach out to insurance agents to explore... View More

View More Answers

1 Answer | Asked in Tax Law, Business Formation, Business Law and Car Accidents for New York on
Q: Hi Is registering as an NY llc really protects you when you drive for doordash ???

If you planned to work for doordash and food delivery gigs in ny as an llc . What's better in terms of protection ?

1- To open an llc in an other state like Wyoming , do you need to regester it as a forirgn llc in ny and every other state you work as a dasher ?

2- if you... View More

Jonathan R. Ratchik
Jonathan R. Ratchik
answered on Jun 6, 2023

Really depends from what you are seeking protection, e.g. personal injury liability, taxes, business debts, etc. Although an LLC will protect you from your business obligations, the mere existence of an LLC will not shield you from all personal liability in the event you injure someone in the... View More

2 Answers | Asked in Business Formation and Business Law for New York on
Q: Me and 4 other friends staring a company so while filling the form (newyork taxation and finance) - one of our friends

Live in India.. do we need to add his info as well or not required (part 5 of the form) because they are requesting SsN n address etc! But he doesn’t have any n is it mandatory to even add his info

The form is LLC/LLP request for information

We just established a company and we... View More

Mathew Paulose Jr.
PREMIUM
Mathew Paulose Jr.
answered on Jun 1, 2023

Greetings. It appears you would like to know whether you need to include certain information on a document involved in a corporate formation. Whether you do or do not depends on the form and what the form is for. Your inquiry does not sufficiently specify the form and the purpose of the form... View More

View More Answers

1 Answer | Asked in Business Formation and Business Law for New York on
Q: I'm looking to start non-profit and need help with my 501c3
Tim Akpinar
Tim Akpinar
answered on May 28, 2023

Your question might continue to be overlooked under the "Trademark" heading, which is more about intellectual property rights involving brand names and related issues. You could repost under "Business Formation" and "Business Law." But because your question appears to... View More

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

Steven Warren Smollens
Steven Warren Smollens
answered on Feb 28, 2023

Dear Brooklyn Tenant

Hello. If your apartment is in a building with at least two more apartments, you must be very careful.

First, your lease may prohibit Airbnb. Most leases in NYC will not allow for use of the apartment for short-term rental. Most leases prohibit profiteering...
View More

View More 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...
View More

View More 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

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 4, 2023

Determining how to split the profit from your Airbnb listing can be a complex issue that may depend on a number of factors, including the financial contributions of each party, the level of effort and involvement required, and any other agreements or arrangements you have in place.

Based on...
View More

View More 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

Peter Klose
PREMIUM
Peter Klose pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Feb 28, 2023

Your question raises some questions. Is your BF on the Lease? I am not sure how you obtained a Lease without a SSN, so I am not sure why that matters now. Also, does your landlord, municipality, and building permit short term rentals like AirBnB? Why is he entitled to any "profit."... View More

View More Answers

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...
View More

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

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

View More Answers

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
Daniel Michael Luisi
Daniel Michael Luisi
answered on Dec 25, 2022

Every action that a corporate officer undertakes can potentially lead to liability under State and Federal Securities laws, banking laws, contract laws, fiduciary rules, and more. Your question is extremely brief. My guess is that it's only an iceberg question: meaning there is a lot more... View More

View More Answers

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.