For the real estate transaction, hire a real estate lawyer. If you still need to set up your business entity for the farm, hire a lawyer handling business formation. You might be able to find a lawyer/law firm that does both. Another issue is whether your land is already zoned for everything you... View More

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answered on Nov 13, 2023

Selecting between a C-Corp and an S-Corp tax status for your LLC is a significant decision, especially considering your F2 visa status.

Generally, F2 visa holders are not permitted to engage in employment in the U.S., and this includes active management of a business. While owning a... View More

There is no registration with the Florida Secretary of State's Office for a sole proprietorship. However, since you are doing business other than your own name you need to comply with Florida's Fictious Name Statute.

In Florida, Section 865.09 of the Florida Statutes requires the... View More

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answered on Sep 14, 2023

Yes, a newly formed LLC can lease equipment from its owner, who is also the sole proprietor, and structure it as a lease with an option to purchase. However, it's essential to document the arrangement clearly in a formal lease agreement to avoid any potential legal issues down the line.... View More

Yes, when a non-profit corporation is dissolved, the assets covered by the asset-distribution clause applies to real property such as that in Mexico. It's essentially a matter of federal law, so it doesn't much matter whether the non-profit was incorporated in Florida, California, or elsewhere.

It is very difficult to function as a nonprofit and also as an LLC. The essential nature of an LLC is that the money left over at the end of the year gets distributed to the members, who are essentially the owners of the LLC. The essential nature of a nonprofit is that nobody is allowed to get the... View More

If the confidentiality clause in your asset purchase agreement does not contain any exceptions for professionals who have a need-to-know the confidential information, or other like language, then sharing the confidential information with your business broker is not advisable as that would be deemed... View More

It is not likely that the agreement could be interpreted to prohibit you from sharing the terms with an attorney under such circumstances; and the fact that you do so would probably be confidential in any case. Run your dilemma by an attorney with experience in such matters to determine, first, if... View More

You ask a question that many founders of nonprofits ask. And lawyers who work with nonprofits inevitably deal with the situation that you fear: a board of directors who develop a different view of the direction to take the organization than the founder's view, resulting in strife and board... View More

If you have stock certificates, you can do it by signing an Assignment Separate From Certificate, attached it to your stock certificate, mark cancelled on the stock certificate and issue a new certificate in the new owner's name.

607.0626 Shares without certificates.—... View More

Yes provided the mortgagee agrees to the assumption of the mortgage. Try to get a release from the Mortgagee for future obligations under the mortgage. You will have to transfer the home by a deed recorded with the County Clerk and pay documentary stamp taxes on the balance of the mortgage... View More

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answered on Mar 3, 2023

For your purposes, LLC is easier and provides the same advantages, if not more, than an S Corp.

Here is what an AI robot says (I do not agree with No.1 under "disadvantages." )

Advantages and disadvantages of LLC over an S Corp.

Limited Liability Companies (LLCs)... View More

Yes, you should register as a DBA, but I would additionally say it is simple enough and you should consider possibly just creating an LLC as well, it looks more professional for a business and if you discuss with an attorney, they can explain how it can create additional potential liability... View More

Interesting issue, which I don't have expertise in, but my somewhat-educated guess is: Regarding the issue of disclosure itself, without regard to whether it causes damage to the corporation, the answer to your question may depend on whether your corporation has a written confidentiality... View More

My experience with filing Articles of Organization via e-fax is it becoming effective the next business day. I have never had to wait 8 weeks. When you file the Articles of Organization specify an effective date 5 business days before the filing date. See Section 605.0702 of the Florida Statutes.

Florida law recognizes oral agreements in some situations- its the duration of the agreement more so than the nature of the agreement. However, in order for an oral agreement to bind, a court would have to determine that both parties acknowledge that there was an agreement made (meeting of the... View More

No.

"Corporations" are companies and can use "Co." in their title. They can also use the words "Corporation," "Company," "Incorporated," and "Inc."

LLCs are not "corporations." They are limited liability companies and must use "LLC."

Try to get a d/b/a.

It depends on the policy, but yes it can. Be very clear when applying for the policy that you want it to cover affiliates of the named insured and their employees and officers.

Yes you can form a Delaware LLC while residing in Florida.

You want to know why you are being sued. The complaint which names you as a defendant should indicate why. If it doesn't, consider moving to dismiss.