I cofounded a S corporation in Delaware a few months ago and left the company as the board member and employee after a couple of months due to disputes with my partner. I still kept the shares (50%) because I was not compensated for the work I did. The company was a start-up and did not have any... Read more »
Depends on what's in the operating agreement/by-laws. What was the underlying entity that was S-elected? S-corps cannot be created at the state level, you have to have a registered entity upon which to elect S status. The IRS will use the entity law to determine owner liability and...Read more »
In 2015, friends and I started a business. We allocated shares, and set up a vesting schedule. In 2016, we decided to allow the business license (Delaware) to lapse and operate with funds from an existing LLC business I own, however, the other partners do not benefit from the LLC business.... Read more »
More information is needed to give you more detailed advice, but you have two basic options, revive the DE entity and sell the business or document the transfer of the business to the LLC and have it sell the business. The devil will be in the details. I would recommend you sell the assets of the...Read more »
I have an online ecommerce store which sells products worldwide, with US, UK and India being the core market. I'm based in India but I want to register my business in Delaware or Nevada. Plus, I have multiple businesses (with different brand names) as well which I would want under a single... Read more »
You should be able to open a bank account in the U.S. without actually coming to the U.S. You say you do not have an ITIN. Why not? It is not difficult to obtain. You will need that so the bank can identify you. The IRS website has instructions for obtaining an ITIN.
I live in delaware and will do business in delaware. Can I do a llc? I also will have a partner and the money we put in the business will be equal so we will have equal say. We get along well and have went through some possible disagreements that would come up in the business to see where we stand... Read more »
Yes, you can form an LLC. You should have an operating agreement prepared by an attorney. This agreement will protect both of you down the road in the event of disagreements, and if one of you chooses to leave and you do not agree on the value of his ownership interest, the agreement will state how...Read more »
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