Kenneth Allyn Sprang’s Answers

Kenneth Allyn Sprang

Washington Business Attorney.

Contributor Level 15
  1. I am an Indian want to open a LLC in USA,my business will be online services to US citizens what will be tax implications?

    Answered almost 3 years ago.

    1. Kenneth Allyn Sprang
    2. Curtis Lamar Harrington Jr
    3. Steven J. Fromm
    3 lawyer answers

    I have several Indian clients who are engaged in similar activities and would be happy to speak with you. We provide a "turnkey" structure to make the task as simple as possible for you. For the structure you propose, I would recommend organizing in Delaware. I organize LLC's and corporations regularly and have done that in a number of states. I find Delaware the state of choice for a variety of reasons, which I am happy to explain. Among other things, they are reasonable in...

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  2. How are the parties involved in the S.corp Liable if sued?

    Answered almost 3 years ago.

    1. Kenneth Allyn Sprang
    2. Shawn Regis Jackson
    3. Michael Charles Doland
    3 lawyer answers

    The idea of an S corporation, a C corporation, or an LLC is to limit the liability of the company to the assets of the company. If you are going to hold specific real property assets, you may wish to consider a separate LLC for each, with the corporation being the LLC member. In that instance, the liability for each building is limited to that building and its LLC. So long as all of your investors are American citizens or resident aliens and none of your owners are corporations or other...

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  3. How much does it typically cost to register a trademark?

    Answered almost 3 years ago.

    1. Kenneth Allyn Sprang
    2. Joel Jay Kofsky
    3. Michael Charles Doland
    3 lawyer answers

    The answer, of course,is it depends. The USPTO fee is $275 to $325 for each mark in each class. In our firm, we charge a flat fee to register the mark, and charge additionally if the USPTO pushes back and requires a great deal of additional time. We charge a modest additional fee for registering additional marks at the same time, since there is an economy of scale in the time needed. I can tell you that in our area the large firms charge on the order of $2500 for a single mark, I am told....

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  4. Does a 1 person personal trainer biz need to become an LLC to protect personal assets or is having liability insurance enough?

    Answered almost 3 years ago.

    1. Kenneth Allyn Sprang
    2. Bryant Keith Martin
    3. Nancy L. Lanard
    3 lawyer answers

    The cost of forming an LLC or an S corporation is quite modest compared with the travesty if your ex spouse ever gets sued. There are tax advantages to an S corporation, but an LLC can be taxed as an S corporation, so the LLC might still work. Moreover, unless she is going to make more money than one would normally earn in that business, the tax advantages of the S corporation may be of no significance. Yes, liability insurance is great. But if a client ever died or if a client were...

    6 lawyers agreed with this answer

  5. Which state is best to open company - to Save Tax or Tax Free: Taxes, Registration, Income taxes, Sales Texas?

    Answered over 1 year ago.

    1. Kenneth Allyn Sprang
    2. Mary Katherine Brown
    3. Michael Charles Doland
    4. John P Corrigan
    4 lawyer answers

    There is a common misconception about registration and taxes. If you are resident in New York and your are doing business in New York, e.g., you have a mailing address in NY and you are making money here, you are going to have to register your compatny in New York as a foreign company even if you do not first register it in NY. Personally I like Delaware for its service, its laws, and a few other things. However, unless one lives in a state that has no income tax, some state is going to tax...

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  6. How do I protect my intellectual property when withdrawing from an LLC?

    Answered over 3 years ago.

    1. Kenneth Allyn Sprang
    2. Robert Scott Lawrence
    3. Barbara I Berschler
    4. Pamela Koslyn
    5. Daniel Nathan Ballard
    5 lawyer answers

    Have you assigned the source code or any of the intellectual property components of the stie to the LLC? If not, in all likelihood title to that IP is still vested in you, which would allow you to walk away with all source code, etc. It might be easier to convince your fellow LLC members to take a more modest share and just be silent, but if you want to separate completely, then you will need to take all of the IP with you. Ideally you would have the LLC assign any interest it has, though...

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  7. What does a partnership lawyer do

    Answered almost 3 years ago.

    1. Steven Alan Fink
    2. Frank Wei-Hong Chen
    3. Robin Mashal
    4. Phillip Monroe Smith
    5. Kenneth Allyn Sprang
    6. ···
    6 lawyer answers

    Although I work with various business organizations, including partnerships, I would not call myself a partnership lawyer. Most business and corporate lawyers like me work with corporations, LLC's, partnerships, and other organizations. A lawyer either representing an existing partnership or helping to create one will draft a partnership agreement to reflect the partners' wishes. Unless he or she is a tax expert the lawyer will urge you to seek an accountant familiar with partnership...

    7 lawyers agreed with this answer

  8. What are the advantages of a Nevis LLC, and what structure one should chose to make business in the USA?

    Answered almost 3 years ago.

    1. Bryant Keith Martin
    2. Kenneth Allyn Sprang
    3. Michael Charles Doland
    3 lawyer answers

    Why do you wish to go offshore? I know of no impediment to holding Intellectual Property in an offshore LLC, but again question the wisdom. It is no clear whether you reside in the US or elsewhere, or what business you are seeking to launch. There are some valid, lawful, and ethical uses of offshore enterprises, but they are also used for less honorable activities. We do a lot of work with start ups and we work with foreign nationals doing business in the U.S. I would need to know more...

    7 lawyers agreed with this answer

  9. How are taxes calculated in an S Corp. and can I write anything off?

    Answered almost 3 years ago.

    1. Kenneth Allyn Sprang
    2. Michael Charles Doland
    3. Phillip Monroe Smith
    4. Christopher Michael Larson
    4 lawyer answers

    Although I am not a tax attorney, I work closely with my tax partner and can share some broad principles. First, congratulations to your son. I gather he has been sufficiently successful to gain his union card and to command something more than the standard minimum. I know that can be a real challenge and not everyone is so successful. As to the business, you generate a certain amount of income. That income is taxable. However, in determining the amount of taxable income, you take the...

    7 lawyers agreed with this answer

  10. Limiting liability Limiting liability Internet Business

    Answered almost 3 years ago.

    1. Michael Charles Doland
    2. Kenneth Allyn Sprang
    3. Phillip Monroe Smith
    3 lawyer answers

    By creating either an LLC or a corporation you address the limited liability issue. So long as your company is adequately capitalized and operates like a company with at least some formalities, you will be limited to the assets of the company in terms of liability with the exception of payroll taxes and a few other things related to employees, for which the principal of a business may be held personally liable. (There is not insulation from liability but liability only arises if one does not...

    7 lawyers agreed with this answer