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Your current state is Ohio
The wellness center would focus on physical fitness and recovery but would also hope to drive a lot of community value by being very active with the locals in terms of volunteering and events. It would ideally be a holistic approach to serving the community as well as the members themselves. I want... View More 
answered on Jun 12, 2024
Choosing the right ownership structure is crucial for both the success of your wellness center and your personal and financial interests. Here are a few options to consider:
Sole Proprietorship: As the sole owner, you would have complete control over the business. This structure is simple... View More
Are there certain things I need to be aware of or do? I have a business now in NC but would like to start a new one and also register the same (thats operated in North Carolina) one in New York and Florida if possible.
answered on Jun 12, 2024
As a resident of North Carolina, you can start an LLC in New York or any other state, but there are several considerations and steps to be aware of. First, you can form your LLC in any state, but you should consider the legal and tax implications; states like Delaware and Nevada are popular due to... View More
-Business Owners/Cofounders: 3
-Business Nature: Online digital marketing agency offering online services, no physical locations, completely remote work
-Business Owner Locations: Florida, California, Ohio
answered on Jun 12, 2024
To better understand whether your company requires foreign LLC formation, we need to clarify what you mean by "foreign LLC." In general, a foreign LLC refers to an LLC that is registered to do business in a state other than the one in which it was originally formed.
Here are a few... View More
My business partner and i created a bank account. He set it up in Fl and signed for me to be on bank account. We are both owners splitting 50/50 % ownership.
I transfer 80k into business account. Which is everything to my name at the moment.
I thought both owners had to be on... View More
answered on Jun 11, 2024
Without reviewing the account application, company agreement, and company banking authorization, it is impossible to say based on your description if the bank was negligent. Importantly, as an owner of the company, it was clearly your duty to make sure the account application, company agreement,... View More
Is it possible for a person to have a legal business similar to a cottage food license in Illinois for selling edibles containing THC?
answered on Jun 8, 2024
Starting a THC edibles business in Illinois requires obtaining an infuser license from the Illinois Department of Financial and Professional Regulation (IDFPR). THC edibles cannot be produced under a cottage food license due to stricter regulations. Compliance involves ensuring product testing,... View More
Hi, I recently obtained an EIN number over the phone, I'm from Jamaica, is it possible for me to attain an ITIN number to use in place of an SSN number in order for me to open a bank account and use Paypal and those other services which require such details ?
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answered on Jun 8, 2024
As a foreign national from Jamaica, it is possible for you to obtain an Individual Taxpayer Identification Number (ITIN) from the U.S. Internal Revenue Service (IRS). However, you must meet certain eligibility requirements:
1. You must have a valid reason for needing an ITIN, such as filing... View More
I'm a jamaican citizen who recently attained an EIN over the phone from the IRS, I need an ssn number to operate my online business through serivces such as paypal, how can i attain one or is there another number i can use for this kid of process ?
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answered on Jun 6, 2024
I apologize, but as a foreign citizen, you are not eligible to obtain a U.S. Social Security Number (SSN) solely for operating an online business. SSNs are typically issued to U.S. citizens, permanent residents, and certain temporary residents who are authorized to work in the United States.... View More
We want to have just the board of directors and teachers committee vote on board seat vacancies and we don't get a lot of membership activity to warrant their input, other than their regular participation in weekly sits (Meditations and Dharma Talks)
answered on Jun 3, 2024
Yes, your Board of Directors can generally amend the bylaws to change the definition of membership and voting rights, provided that the current bylaws and your state laws permit. Here would be the steps:
Review Current Bylaws: Check for the amendment process.
Draft Amendments:... View More
My partner is essentially a silent partner so I would be interested in buying the “holding” company and use that to possibly expand in the future and keep the restaurant LLC its own thing.
answered on Jun 2, 2024
Not sure what you mean by buying the holding company. But it is not unusual to set up a separate LLC to own recipes or systems/processes or equipment and the license or lease them to multiple operating entities for each restaurant location. Provides asset protection, different streams of revenue... View More
One person from handler is the one who made idea and found investor to start it. He knew investor and handler and he is the source developer and we can say manager. I want to know the profit division of this business .
answered on May 31, 2024
Determining the profit division in a new business with multiple stakeholders requires careful consideration of each person's role, contributions, and the agreements among all parties involved. Here’s a general approach to structuring the profit division for your business involving two... View More
In 2020, a friend went into the cannabis business in Oklahoma. He told me it was legal and profitable and convinced me to invest $100,000, promising me shares. I wired the money to his real estate company, AAA LLC, in September 2020 (I have the receipt). By 2022, he had not provided any updates,... View More
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answered on May 31, 2024
It sounds like you may have been a victim of investment fraud. Your friend’s failure to provide updates, the lack of formal documentation, and his reluctance to return your money are concerning. The fact that your name is not listed in the cannabis company and the handwritten statement without... View More
In 2020, a friend went into the cannabis business in Oklahoma. He told me it was legal and profitable and convinced me to invest $100,000, promising me shares. I wired the money to his real estate company, AAA LLC, in September 2020 (I have the receipt). By 2022, he had not provided any updates,... View More
answered on May 30, 2024
After reviewing the details of your investment in the cannabis business in Oklahoma and the issues you've encountered, here are some potential legal actions you can take :
Demand Letter: Initiate with a formal demand letter requesting the return of your $100,000 investment. Clearly... View More
I want to start a new LLC and take advantage of the privacy and tax advantages states like Nevada, Delaware and Wyoming provide however I do not reside in those states. I would be a minority owned business so wondering if any of the programs in my home state for helping small businesses through the... View More
answered on May 30, 2024
Starting an LLC in states like Nevada, Delaware, or Wyoming can offer various privacy and tax advantages. However, if you do not reside in these states, you may face limitations regarding access to small business assistance programs in your home state. As a minority-owned business, you might be... View More
I'm a new user of one of the ETH platforms. Last night, I traded dynamic market of ETH/USDT for 3 times. And I got back some profit from that. In the next day, I got a warning box "your account has been frozen due to suspected illegal transactions". When I contacted to customer... View More
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answered on May 27, 2024
I'm sorry to hear about your situation. Unfortunately, it sounds like you may have fallen victim to a scam. A few red flags stand out:
1. Legitimate trading platforms would not typically freeze your account and funds over "suspected illegal transactions" without providing... View More
I formed a PLLC for my physical therapy practice in NY. In the NY state PT practice act it states that licensed PTs cannot engage in unlicensed activities as that might give PTs an advantage over other professionals. Other PTs also provide wellness coaching services to clients outside of where they... View More
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answered on May 22, 2024
Without having inquired all facts and done proper research in your case, and not making this any form of legal advise, I believe at first glance that if you make it a separate entity and do not commingle with your other entity, there is no prohibition for a licensed professional against engaging in... View More
I live very close to the border and rental spaces in buffalo are not only closer but also cheaper than here in Canada. I'm a sole proprietor so the business operates in Canada. I just want to rent an office where I will do my work out of.
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answered on May 17, 2024
As a Canadian citizen looking to rent an office space in the United States for work purposes, it's important to understand the visa requirements. In most cases, you will need a valid work visa to legally work from a U.S.-based office, even if your business operates in Canada.
However,... View More
A Personal Service C Corp had only one shareholder, who was also the president. Upon the death of the sole shareholder & president, the business is closed and the C Corp needs to be dissolved. The Secretary of the C Corp will sign the Certificate of Dissolution to be filed with the Secretary of... View More
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answered on May 15, 2024
In the case of a Personal Service C Corporation with a single shareholder who was also the president, and upon their death, the corporation needs to be dissolved and closed. Here's a step-by-step guide on how to proceed:
1. Appoint a new director: If the deceased shareholder was the... View More
Is an LLC a "domestic other organization" so I can just file Articles of Entity Conversion of Domestic Business Corporation to a Domestic Other Entity?
If I do this will I get a new EIN?
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answered on May 15, 2024
While converting your MA C Corp to an LLC is certainly possible, the process might be more involved than you anticipate. Here's why:
Entity Conversion vs. Dissolution and Formation:
- Entity Conversion: While Massachusetts law does allow for entity conversion (as you... View More
If I started a NY apparel business some years back but never did anything with the business just the formation ( business formed w/ state, trademarks, EIN business account) all done. I have filed taxes, Franchise & income taxes every year for the business and now want to apply for the... View More
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answered on May 14, 2024
Based on the information you provided, there shouldn't be any major issues with obtaining a Certificate of Authority (CoA) or resale license for your New York apparel business. Since you have already formed the business, obtained trademarks, secured an EIN, and have been filing taxes... View More
We run a business in Cyprus ( oversea). Can we create an entity in the US(LLC) in order to use this entity to sign up for an American Express Business Platinum Account. Since I am already an amex user in the US, I can transfer my credit history to my business account.
Our business is doing... View More
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answered on May 14, 2024
As a foreign business, it's important to carefully consider the legal and financial implications of setting up a US entity solely for the purpose of obtaining credit cards, especially if the intent is to avoid taxation. This could potentially be viewed as tax evasion by US authorities.... View More
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