Thanks for your question. Unfortunately, this is a difficult question to answer without more information. It would help me to know the type of LLC your friend has and what ownership or relationship your friend's LLC or other two companies under it will have with the new business that you want to...Read more »
Generally speaking, yes. However, the state you want to do business might require you to register your business with them, to obtain a license for your type of business, to register for sales tax, etc. You should consult an attorney in the jurisdiction you are wanting to do business in to see what...Read more »
I am looking to do the smart thing for structure and taxes. I have an existing DBA with EIN. I want to start a second business. Do I need to create a parent company LLC or something for them to be subsidiaries of, or can they stand alone? Thanks much!
Further, I am applying for an EIN with the IRS. The website is asking where my physical address is - would that be the KY initial registered office, my home address in Texas (where I work), or the property address that I'm in contract to purchase?
There are specific requirements governing when a business entity must register to conduct business in Texas. An attorney would need to know all the facts about the business to answer this question. The address of the business is not the registered agent's office. Typically, the business address...Read more »
Wanted to know what type of business would be better: non-profit or a LLC. Should I have a lawyer look over contract between my company and the school district. Do I need another company to handle taxes and payroll.
An attorney would need to know more about the program to advise on what type of business structure to use. There are many factors to consider when forming a business. It would be best to have a lawyer review a contract with a school district.
If you register a business name in Texas, the Texas secretary of state will not let someone else register the same name in Texas. However, someone could register that name in another state or use it as a trade name. Registering a business name does not provide trademark rights. If you want to...Read more »
Hi, I am planning to convert my Sole P into an LLC here in Texas. And I also have about 21 sales tax permits. I plan to not file my LLC in those other states. But what about sales tax expense? The sales tax permit would be under a Sole P so how do I take that sales tax expense under account if the... Read more »
Most states require companies that sell products in the state to register to conduct business in the state. An LLC that is not properly registered to conduct business and intermingles transactions with a sole proprietor has a decent chance of losing its ability to shield the owner or owners from...Read more »
Our accountant is advising us to move the newly constructed office/warehouse building that our company built into another LLC for protection. The one issue that she had was that the building was built on one of the partners properties and it is still legally in his name but the building was build... Read more »
Texas law does not require you to put the building in an LLC, although doing so may provide liability protection. An attorney would need to understand the entire situation and review the title documents to advise on how to structure the LLC and what assets it should hold.
My credit union says that no institution has the option to restrict withdrawals from a joint account unless both parties sign for the withdrawals. However, a contract I've created gives such an option. How valid is a notarized contract in this case if institutions do not offer mandatory signatures... Read more »
Generally, a contract is only binding on the parties who sign the contract. If the bank is not a party to the contract, it does not have to follow it. You and your business partner can contractually agree to limit the money each of you can withdraw from the account. However, you would not be...Read more »
Most likely, you can sell the products. Generally, you are free to resell what you rightfully purchased. There is a possibility that one of the brands may have brand use guidelines that restrict how you can market their products. An attorney would need to know more to give a certain answer to...Read more »
I currently work as a contractor for a small company and I'm the only employee. My job includes placing orders, sourcing and book keeping. Should I set up an LLC and let my current employer contract through my company or continue work as a contractor?
If you don't do anything to create liability, probably not. Depending on how much money you make, there may be tax advantages to having your income pass through a business entity that is taxed as an S corporation.
The state of Texas does not require a person to hire an attorney to organize an LLC. But, there are so many mistakes that can be made, it is unlikely that an LLC, or any business entity, formed and managed without legal counsel will be effective in the long run or in the face of litigation.
I am opening up a Offroad company in Texas called Kaos Offroad period but I found on your website that name is trademarked. What exactly does that mean? Does this mean I cannot open my shop under that name?
It depends on whether consumers are likely to be confused about the source of the trademark owner's goods/services. If both companies sell off-road equipment, you are likely infringing on the other company's trademark, even if you successfully register the business name in Texas.
In Texas, if I filed for bankruptcy, informed my mortgage company about it with my case # and got jailed for a different reason before the bankruptcy got concluded, should it be in effect or should my mortgage company foreclose my house? Do I have any legal option if the mortgage company foreclosed... Read more »
If this was your first case the mortgage company should not have foreclosed while the automatic stay was in place. The automatic stay is in force from the time the case is filed until it is lifted or your case is dismissed. Getting locked up does not terminate the stay. Having your case...Read more »
There are many online incorporation firms that will handle the paperwork for C Corp. or LLC formation, typically in about 2-3 business days or quicker with expedited service. You do not need to be a Texas corporation to do business in the state, just registration as a "foreign" company with an...Read more »
The refusal to deliver the contracted business plan is a breach of contract. You can sue the consultant and claim damages of the difference between what you paid him and what it costs to have another consultant prepare the business plan, plus restitution of what you paid under the contract and, if...Read more »
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