an african company. The parties draw up and sign agreements in the proposed name of the new company. The parties go to africa set up the company. Is the original contract valid. Both parties agreed in parole evidence, then drew up paper work, signed it ,and incorporated the company in africa as... Read more »
You're encouraged to sit down with a lawyer experienced in international business law (many attorneys in and around DC have such skill sets) to go over the specific scenario at issue. An online post cannot realistically analyze such a fact pattern.
Maryland law now recognizes entity conversions so that one can change an entity formed in another state to a Maryland entity (this could be a corp to a LLC, a corp to a corp, etc.). For more information you could look at the Corporations & Associations article of the Maryland Annotated Code,... Read more »
This is a good question to ask a lawyer when sitting down to talk about forming a new business. Generally the purpose should describe what kind of things the entity will do (e.g., operate a restaurant, sell cars, provide landscaping services, etc.) but also have provision to do other permissible... Read more »
It depends on the nature of the business and what type of "business taxes."
A sole proprietor who files on a Schedule C and has no employees may elect to use their own social security number for their estimated tax payments, but most small businesses would benefit from forming an... Read more »
agreement between a us corp CT and A Guinea corp
the guinea corp was not formed at the time of agreement,we the set it to writing the guineacorp was then created when we flew to guinea(they only set up in person) is the written agreement Valid? void? or voidable? or just fine
An attorney cannot reasonably answer a question on the validity of a multi-jurisdiction contract without seeing the contract and understanding where the contract is to be performed and where the dispute has arisen.
You are strongly encouraged to consult legal counsel, ideally one skilled... Read more »
I would like to mortgage 80% of the home value.
If the question is "can an individual make a loan to a business they own," the answer is "generally, yes." The individual would of course need to report any interest income received. If the question is "can a business make a loan to an individual who owns the... Read more »
The Operating Agreement should describe how the owners ("partners") vote on decisions in a particular LLC and also explain what % vote is necessary to pass a resolution. If an LLC does not have an operating agreement it would be wise to create one. Maryland does have some default... Read more »
This online forum exists for general questions, not so much for attorneys to research a particular question. That being said, to see if a particular name is available one can contact the State Department of Assessments and Taxation. Even if a name is available per the Maryland SDAT, a business... Read more »
I am concerned we need to file paperwork as an foreign entity, and will have to file an annual report in MD as well as NY. Please help.
Depends on whether the LLC is conducting business in NY. Then you would need to follow NY law in regards to filing entity status. And the person who resides in NY may face different tax challenges than the person in MD. Consult with both NY and MD counsel.
My understanding is that to reinstate the original business, you have to pay annual report filing fees plus penalties for the previous missed years. But what if you want to register a new business under a different name? Are there penalties for this?
No, you are fine.
This question was posted in Maryland. If your corporation exists in this state (MD), then reinstatement is a matter of paying back personal property returns and filing Articles. If in another state, you may wish to contact the Secretary of State or equivalent state corporation division.
An entity is effectively formed the date the SDAT approves the articles of organization. However, a business is generally advised to wait until after it holds its organizational meeting before transacting business.
Determining where to incorporate or form a new business involves a great number of factors and is not easily answered by an online post. That being said, to issue mortgages in the state of Maryland one needs Maryland licensure.
You are encouraged to seek legal counsel before starting any... Read more »
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