Ohio Business Formation Questions & Answers

Q: Hello I am helping my friend out with his single member LLC and we want to add me as a member. What steps would we tak

1 Answer | Asked in Business Formation, Business Law and Contracts for Ohio on
Answered on Jan 27, 2019
Neil Klingshirn's answer
First, you and your friend should each consult your own attorney. Becoming a member of a limited liability company is economically similar to becoming a partner in a business. You will have rights and responsibilities with respect to your friend and should know what they are and whether you are prepared for them. Not understanding that is a great way to end up with a business partner who is no longer your friend.

In addition, you should agree now on how to exit the business when the...

Q: LLC agreement between partners

1 Answer | Asked in Business Formation for Ohio on
Answered on Aug 3, 2018
Matthew Williams' answer
And what is your question? If you want to know what it says...its important to have Section 8.2 as well.

Q: How do my husband and I create a 2 person member LLC for a rental property?

1 Answer | Asked in Real Estate Law, Business Formation and Business Law for Ohio on
Answered on Apr 5, 2018
Joseph Jaap's answer
An Ohio LLC can be created on-line with the Ohio Secretary of State. But you should retain a local attorney in OH to discuss setting up and operating the LLC properly and property ownership. You also should consult your tax advisor regarding the different options that can be elected for federal income taxes and other tax issues, including OH state taxes. Those depend on your particular tax situation. Use the Find a Lawyer tab to consult a local OH attorney where the property is located.

Q: What legal steps are necessary to open an eliquid company?

1 Answer | Asked in Business Formation and Business Law for Ohio on
Answered on Jan 3, 2018
Matthew Williams' answer
Get a lawyer to help you with this. Opening the company is fairly straightforward, but there are lots of regulations concerning the packing and sale of these products and you need to be familiar with them.

Q: What forms do I need for an online business??

1 Answer | Asked in Business Formation and Business Law for Ohio on
Answered on Sep 13, 2017
Joseph Jaap's answer
Those questions cannot be answered on-line. If you want to start your business properly, and avoid future problems, then you need both legal advice and tax advice. So you should save up enough money to obtain that professional assistance so you can start the business correctly. You and he would be considered partners, and you and he need a written agreement that you both have signed, stating how you will operate the business, who will pay for what, who will do what, how money will be handled,...

Q: I am entering a partnership with someone and need assistance on how to protect myself.

2 Answers | Asked in Business Formation, Contracts, Intellectual Property and Trademark for Ohio on
Answered on Aug 22, 2017
Joseph Jaap's answer
You are prudent to seek assistance for your business relationship and protection of your artwork - before you begin. Use the Find a Lawyer tab and contact a local business attorney who can advise you and answer questions about business formation and copyright protection.

Q: I'm creating a game that has people travel the city. If they are injured, am I liable? Do I need a waiver or insurance?

1 Answer | Asked in Personal Injury, Products Liability, Business Formation and Business Law for Ohio on
Answered on May 3, 2017
Peter N. Munsing's answer
As you describe it, if you make part of the rules they comply with all laws etc you shouldn't be liable. If it's a drinking game, that might be different.

Q: Is an operating agreement same as lease agreement between a holding & operating LLC?

2 Answers | Asked in Business Formation and Business Law for Ohio on
Answered on Mar 22, 2017
Glenn B. Manishin's answer
No, an operating agreement governs how an LLC enitity is run among its members (essential shareholders), including division and distribution of profits, not an agreement between two or more LLCs or other legal corporate entities.

Q: I am working with multiple partners to put together a LLC to purchase a commercial property. Can I take a fee.

1 Answer | Asked in Real Estate Law and Business Formation for Ohio on
Answered on Mar 6, 2017
Matthew Williams' answer
You should discuss your business plan privately with an attorney. It sounds like you may be involving yourself in transactions which require a license that you do not have.

Q: Various Questions about filing as an LLC in Ohio

1 Answer | Asked in Business Formation for Ohio on
Answered on Aug 11, 2015
Adam Studnicki's answer
Sounds like you'd benefit from building a relationship with a good CPA. In addition, you'd likely benefit from talking to a business lawyer. If you're running a serious business, you want to make sure you're protecting yourself, including using agreements tailored to your business and not off-the-shelf generic forms.

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...

Q: How do I make separate websites making online income part of one LLC in Ohio?

2 Answers | Asked in Business Formation for Ohio on
Answered on Mar 12, 2015
Matthew Williams' answer
You really just need to make sure the LLC is responsible for the websites. An LLC can be set up to engage in a specific industry or can even be very broadly defined to "conduct all lawful business." Found an LLC and define it as a company engaged in ecommerce and then use the LLC to set up various websites and track the websites performance and earnings in the LLC's books and funnel income and expenses through the LLC's bank account. Sign the necessary paperwork as Joe John (Owner) on behalf of...

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