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Wisconsin Business Formation Questions & Answers
1 Answer | Asked in Business Formation, Tax Law and Business Law for Wisconsin on
Q: Hypothetically, if an organization with the same model wanted to build houses in the same manner but give the house away

What implications are there to giving a house away with the land? (The land in purchased from the city by HH.)

James L. Arrasmith
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answered on Mar 24, 2024

If an organization decides to give away houses along with the land, purchased from the city, there are several factors to consider. Firstly, there might be tax implications for both the giver and the receiver. The value of the house and land could be taxable as income for the recipient, depending... View More

2 Answers | Asked in Business Formation, Business Law and Tax Law for Wisconsin on
Q: Hypothetically, if an organization with the same model of habitat for humanity, but they give away houses.

What implications are there to giving a house away with the land? (The land in purchased from the city by HH.)

James L. Arrasmith
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answered on Mar 24, 2024

If an organization similar to Habitat for Humanity decided to give away houses along with the land, several implications arise. First, the recipients would gain significant financial security and a sense of permanence, as owning both the house and the land secures their place in the community and... View More

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2 Answers | Asked in Business Formation, Business Law and Tax Law for Wisconsin on
Q: Hypothetically, if an organization with the same model of habitat for humanity, but they give away houses.

What implications are there to giving a house away with the land? (The land in purchased from the city by HH.)

Steven Goldburd
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Steven Goldburd
answered on Apr 4, 2024

If this is viable Not-For-Proft (or Non-Profit as some refer) then as long as they are within the bounds of non taxable gifts to their recipients. If the recipients are low income and qualify under the “NFP” charitable purpose then the donor would have a charitable deduction and the recipient a... View More

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1 Answer | Asked in Business Formation, Business Law and International Law for Wisconsin on
Q: Hi, I am an international student studying in USA. I want to use my mom's name to register an LLC. Is that fine?

My mom is from another country. Can I operate my business like this without breaking any guidelines of my F1-visa, the business will be registered in my Mom's name. Will that be okay? What's your advise on this?

James L. Arrasmith
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answered on Dec 14, 2023

Registering an LLC in your mother's name while you are on an F1 visa in the USA requires careful consideration of both immigration and business laws. As an international student, your F1 visa has specific restrictions regarding employment and business operations.

Firstly, you should...
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1 Answer | Asked in Immigration Law, Business Formation, Business Law and International Law for Wisconsin on
Q: Hi, I am an international student studying in USA. I want to use my mom's name to register an LLC. Is that fine?

My mom is from another country. Can I operate my business like this without breaking any guidelines of my F1-visa, the business will be registered in my Mom's name. Will that be okay? What's your advise on this?

James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Dec 12, 2023

Using your mom's name to register an LLC in the USA is technically possible, but there are some important considerations to keep in mind:

Legal Implications: Registering an LLC in someone else's name, even if it's your mom, may not be against the law in itself. However,...
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1 Answer | Asked in Business Formation and Business Law for Wisconsin on
Q: A friend and I want to merge our separate LLCs within the next few years to make one business. Is this possible legally?
Gregory Byrnes
Gregory Byrnes
answered on Apr 6, 2020

Yes, it is possible. You will want to review the Wisconsin LLC Law under "SUBCHAPTER XII MERGER; CONVERSION" - Here is the statute: https://docs.legis.wisconsin.gov/statutes/statutes/183/XII/1207. If the other company is not a Wisconsin LLC, the steps may be different, but every... View More

Q: What are the first steps in protecting a concept for/of a new business? Does it involve patents or copyright?
Kevin E. Flynn
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Kevin E. Flynn
answered on Jan 23, 2019

Might not be a patent. The Supreme Court has recently made it fairly difficult to patent a method of organizing human activity. See the documents used to train patent examiners -- https://www.uspto.gov/patent/laws-and-regulations/examination-policy/subject-matter-eligibility On the other hand,... View More

1 Answer | Asked in Business Law and Business Formation for Wisconsin on
Q: when an LLC is formed and a member invest personal money, is that members personal assets at risk?

In the event of a liability lawsuit or bankruptcy

Glenn B. Manishin
Glenn B. Manishin
answered on Feb 26, 2017

No, that is the legal function of the LLC form, shielding personsal assets of the members absent fraud or commingling.

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