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Ohio Business Formation Questions & Answers
1 Answer | Asked in Real Estate Law and Business Formation for Ohio on
Q: I am working with multiple partners to put together a LLC to purchase a commercial property. Can I take a fee.

I am getting a few partners to pool $100,000 as a downpayment on a commercial property that is $600,000. Obviously we are getting a loan for the rest. Can I take a fee from the downpayment proceeds for putting the contract together. A percentage, like 5% to 10% of the downpayment, I was hoping. I... Read more »

Matthew Williams
Matthew Williams answered on Mar 6, 2017

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.

1 Answer | Asked in Business Formation for Ohio on
Q: Various Questions about filing as an LLC in Ohio

We are looking to file as an LLC in the State of Ohio. We have a few questions in particular about taxes and finances. We've been in business for around a year now, as a sole proprietorship. We've recently become pretty successful, we are on track to make much more than expected.... Read more »

Adam Studnicki
Adam Studnicki answered on Aug 11, 2015

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... Read more »

2 Answers | Asked in Business Formation for Ohio on
Q: How do I make separate websites making online income part of one LLC in Ohio?

I'm not sure how to make sure my websites are "part of" of LLC business in Ohio. I recently established an LLC for my online media and website incomes. Each time I create a new income earning website, what steps do I need to take to make sure that website is part of the LLC, or... Read more »

Matthew Williams
Matthew Williams answered on Mar 12, 2015

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... Read more »

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