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We are a start up and have registered a S Corp. but haven't signed byLaws, form 2553, and also our Secretary hasn't signed the Certificate of Secretary. However, we have the IRS EIN#. Now we got to a point that we want ask our CEO who is also one of the co-fonder(20%share) to leave the... View More 
answered on Oct 14, 2024
Your question is ambiguous. The filing of Form 2553 is what registers a corporation as an S corporation. Until Form 2553 is filed, the entity is a C corporation. There is a time limit to file the Form 2553 to elect to be an S corporation.
The Board usually can elect another CEO.... View More
Is debt consolidation legal? I have never missed a payment to debt consolidation. I have multiple sclerosis and am so sick most of the time, Im frustrated and scared to death . any helpful information on what to do would be so very appreciated. I didnt know debt consolidation could land me in this... View More
answered on Sep 7, 2024
The debt consolidation companies are not always clear on what they can or cannot due. The creditor must agree to the payment plan or the compromised payment. Without it they can sue. Find defenses to the defense and negotiate a settlement. If you still have many other debts, bankruptcy might be... View More
My father runs a cleaning (franchise) business that is under my name, but I am not actively involved and I do not receive proceeds. It opened in late 2017 and didn't see any revenue until 2018 when it first acquired contracts. I'm looking to transfer ownership to my father for the... View More
answered on Jul 26, 2024
You can transfer 100% of your interest in the business to your father. You will be legally responsible for all taxes incurred by the business prior to the effective date of your transfer of your ownership interest.
Facing closure, my former employer and I agreed on a commission-only role to keep me on board. I successfully brought in several clients, including their largest ever, a multi-million dollar deal. After receiving a partial commission for this deal, communication and transparency around client work... View More
answered on Jul 25, 2024
A Texas attorney could advise best, but your question remains open for two weeks. One option is to review your matter with a Texas attorney. The first thing they'll ask, which is not mentioned in your post, is whether you had a written agreement as to your commissions. That would be valuable.... View More
I had a LTD business that is now dissolved. Since its dissolution I received a refund from an insurance company for overpayment of services. I have tried everything to deposit this check. The insurance company will not reissue it and I cannot sign it over to a third party. I am wondering if I can... View More
answered on Jul 18, 2024
Endorse the check on behalf of the company over to yourself as an individual and deposit it in your individual account.
Seller's note is contingent upon gross revenue of $2.85 million and paid out monthly for 4 years each year 120K The gross revenue will not be attained due to new buyers non performance. New owner is not a citizen of the US and is a 26 yr old son of one of the investors and has no interest in... View More
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answered on Jun 19, 2024
I understand your concerns about the upcoming meeting on September 20, 2024, regarding the seller's note payment. It seems that the new owners have not been performing as expected, which may result in a lower payout than initially agreed upon. Given the complexity of the situation, involving... View More
Seller's note is contingent upon gross revenue of $2.85 million and paid out monthly for 4 years each year 120K The gross revenue will not be attained due to new buyers non performance. New owner is not a citizen of the US and is a 26 yr old son of one of the investors and has no interest in... View More
answered on Jun 17, 2024
You should contact an attorney experienced in the area of practice called business litigation in or near the county specified in the forum selection clause in the sale agreement, or in the county where the new owner resides if he is the promisor on the note, or in the county where the... View More
who owns a business in the US, and is looking to bid on a contract that is not in connection with critical infrastructure, does the government code section 2274.0102 still apply?
Thank you
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answered on Jun 15, 2024
Government Code section 2274.0102 focuses on restricting contracts with certain foreign-owned entities, particularly when it comes to critical infrastructure. Since the contract in question is not connected with critical infrastructure, this specific section might not apply directly.... View More
My business partner and i created a bank account. He set it up in Fl and signed for me to be on bank account. We are both owners splitting 50/50 % ownership.
I transfer 80k into business account. Which is everything to my name at the moment.
I thought both owners had to be on... View More
answered on Jun 11, 2024
Without reviewing the account application, company agreement, and company banking authorization, it is impossible to say based on your description if the bank was negligent. Importantly, as an owner of the company, it was clearly your duty to make sure the account application, company agreement,... View More
The customer we are not sure drink in the restaurant or no?because we don’t have his card information,we have insurance,but we don’t have liquor insurance,right now the plaintiff sue to our restaurant. So what can we do ?
answered on May 30, 2024
If your business has been sued and you do not have insurance coverage, you should hire a civil trial attorney with experience in dram shop cases to represent your business immediately. Normally, you have roughly three weeks from the date that your business was sued to file a written answer to the... View More
Accepting and transferring balances to the principal account
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answered on Jun 2, 2024
As an authorized agent on an account, you have the power to perform specific financial actions on behalf of the principal. These actions can include accepting and transferring balances to the principal's account. Essentially, you manage financial transactions that the principal has entrusted... View More
Accepting and transferring balances to the principal account
answered on May 28, 2024
An authorized agent has whatever powers the principal has given to the agent acting on his/her/its behalf. An agent has a fiduciary duty to act honestly in accordance with the principal's instructions in good faith with utmost loyalty to the principal and to refrain from self-dealing.
answered on May 28, 2024
This sounds to me like you are asking about a "dram shop" case where a patron of a business selling alcohol consumes too much and then has a collision while operating a motor vehicle under the influence of alcohol.
In a dram shop case, the business/bartender/licensee is liable... View More
My name is very unique. I can't look me up anymore. Credit bureaus can't verify me. When I try to look my name up it is now under my parents name as an alias and only shows my 2 siblings.
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answered on May 1, 2024
If a company is using your unique name on their product, and it's causing significant problems for you, there are several steps you can take. First, consider reaching out to the company directly to express your concerns and the specific issues their use of your name is causing. A respectful... View More
My name is very unique. I can't look me up anymore. Credit bureaus can't verify me. When I try to look my name up it is now under my parents name as an alias and only shows my 2 siblings.
answered on Apr 30, 2024
Under trademark law, no one can register a trademark with a person's surname (i.e., last name). Companies can still use a name as a trademark/brand and simply not apply for federal or state trademark registration. If a first name is unique, then it might fall under the trademark category... View More
I might have a case for this but I wanna make sure...
answered on Apr 26, 2024
In order to get procedures from a credit reporting agency, you'll likely need to sue them and ask for the procedures in discovery. They will likely only hand them over under a protective order. I would contact a consumer protection attorney that is familiar with the Fair Credit Reporting Act.
The Company is Divisions Maintenance Group in Ohio but operates a handyman app that provides a job load board for technicians anywhere in the nation. As we perform maintenance jobs for businesses in our local region, the businesses pay Divisions Maintenance Group for our services, and we get paid... View More
answered on Apr 19, 2024
In justice court, a suit on an oral or written contract for labor actually performed may be brought in the county and precinct where the labor was performed. TCPRC 15.092. So in the JP court for the precinct where the Sam's Warehouse where you performed the services is located.
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answered on Apr 10, 2024
Attempting to hide or protect assets when facing debts or legal judgments could be considered fraudulent in many cases. The ethical and legal course of action is to pay valid debts that are owed.
If you are facing financial hardship, I would suggest speaking with a certified credit... View More
What are my legal financial responsiblilities? This was a service based business
answered on Mar 27, 2024
As long as you provided all of the services you contracted to provide to your "members," you have no obligation to refund their payments if your contract expressly provides no refunds.
Where some service-based businesses get into trouble is when they contractually obligated the... View More
If I do a video edit for a client and they provide me all the footage do I need to charge them sales tax?
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answered on Mar 25, 2024
In Texas, not all services are subject to sales tax; however, there are specific services that do fall under taxable categories. While the state's general approach leans towards taxing tangible personal property, certain services, especially where tangible personal goods are not primarily... View More
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