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Iowa Business Law Questions & Answers

1 Answer | Asked in Business Formation, Tax Law and Business Law for Iowa on

Q: What is the least expensive way to buy into an LLC with regard to Iowa and federal tax cost?

Father and two siblings put farm into LLC (split 50/25/25). One of the siblings is going to nursing home and selling their membership units (25%). An agreed price has been established for units. Should the LLC buy the seller's units and then sell them to me? OR Should I buy into the LLC first? What... Read more »

D. Mathew Blackburn answered on Aug 20, 2019

You need to hire a professional. There's a few things in your question that are not correct in regards to how an LLC functions. You're going to need more detailed advice than should be given through this forum.

3 Answers | Asked in Business Law, Civil Litigation, Intellectual Property and Trademark for Iowa on

Q: Who owner the ampersand mark? Please refer to all information in registered trademark 86905207, from the USPTO website.

I asked for the ownership of this mark from its creation. Please validate.

Ahaji Kirk Amos answered on Mar 21, 2019

I don't understand the question.

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1 Answer | Asked in Business Law for Iowa on

Q: Is there any cases where I can find details about damage claims in a contract

for example: Courts also look at the price of the contract in determining whether certain damages for breach of that contract are proper. A lack of proportion between the two numbers is an indication that the requested damages are improper. In other words, if a party is only be paid a small amount... Read more »

Tim Akpinar answered on Nov 22, 2018

There are, but “damages” is a broad subject, where there are different types of damages, such as compensatory, punitive, consequential, among others. If this is for general knowledge or research, you can find a great deal of information on the subject of damages. If this is for an actual... Read more »

1 Answer | Asked in Contracts, Business Law and Landlord - Tenant for Iowa on

Q: I am considering a commercial real estate lease in Iowa. The Landlord's attorney will not put just my business name.

I have an LLC, but they insist I also need to be named a Leasee individually. The purpose of the LLC is to maintain separation from me individually, so I don't want to be on the Lease as an individual, just the LLC. Is this legal?

Glenn B. Manishin answered on Apr 20, 2017

Unless Iowa-specific state statutes or court decisions say otherwise, a landlord or other creditor is entitled to ask for a personal guarantee from a corporation's principals. You are also entitled to say no.

1 Answer | Asked in Business Law for Iowa on

Q: Can briefly explain about invitation to treat of brochure and inquiries through the telephone ?

And about cases that can make an example on brochure and inquiries through the telephone

Adam Studnicki answered on Aug 29, 2015

This question is hard to understand and too theoretical. Talk to a local lawyer about your specific situation.

Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not...
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1 Answer | Asked in Business Law and Employment Law for Iowa on

Q: Can H1B visa holder partner with other to form LLC or C-corp and be passive owner?

I am on h1B. I am planning to open a C-Corp with a friend (XXXXX) who has Citizenship. How do I legalize our partnership and can it be 50%/ 50% basis?

How do we deposit initial capital? Will it be a direct deposit? Can I take a loan to invest in the C-Corp?

How do I get my share?... Read more »

Adam Studnicki answered on Aug 28, 2015

You may want to post under immigration.

Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific situation. It is...
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