Markus May’s Answers

Markus May

Naperville Business Attorney.

Contributor Level 9
  1. Can I convert an Arizona LLC to a Delaware Corp, for example?

    Answered about 1 month ago.

    1. Markus May
    2. Judy A. Goldstein
    3. Karen Jackson Porter
    4. Robert Allen Shipley
    4 lawyer answers

    Your father knows the law well? Then you should ask him. You definitely shouldn't ask Illinois attorneys to opine on Arizona law. I know Illinois LLCs can convert to Delaware corps as I have done that. Probably can be done by an AZ LLC as well. If the company operates in Illinois, you will still need to register here even though AZ law controls the company internal affairs - so you will need to pay for 2 states' registration fees. You may be more interested in comparing the various state LLC...

    Selected as best answer

  2. How do I change the shareholders for an LLC?

    Answered 28 days ago.

    1. Markus May
    2. Alan James Brinkmeier
    3. Jeff Ray Hawkins
    4. Ronald J Cappuccio
    4 lawyer answers

    The owners of an LLC are called members. They own LLC interests and not shares. It appears you haven't used an attorney to help set up the LLC and don't have an operating agreement. Technically this isn't required and the statutory provisions will control. You should read the LLC Act to make sure you know how to run the company properly. However, most business owners are better at running businesses than they are at interpreting statutes. Further an operating agreement is usually desired...

    2 lawyers agreed with this answer

  3. How does an online business connect to an existing S-Corp??

    Answered 3 months ago.

    1. Elizabeth Abouchar Homsy
    2. Thomas O. Moens
    3. Bruce E. Burdick
    4. Markus May
    5. Maurice N Ross
    5 lawyer answers

    Good points by all the above attorneys. A simple answer if you are using an existing S corporation that doesn't do anything at this time (e.g. a shell) then you can just do a name change or file a dba with the state - subject to all the intellectual property concerns mentioned earlier. If XYZ is an existing working business you should probably sit down with a good business attorney to figure out if you want to separate the two businesses or not and the pros and cons of the various different...

    2 lawyers agreed with this answer

  4. Hello my question is if I want to start up my own printing book business in my garage what do I need to do to make it legal

    Answered 4 months ago.

    1. Judy A. Goldstein
    2. Sarah Elizabeth Buck
    3. Markus May
    3 lawyer answers

    As mentioned by other posters, there is a lot that goes into starting a business. A good resource to start with is the state's guide on starting a business which has lots of links. It can be found at: https://www.illinois.gov/dceo/BizDevelopment/Pages/StepByStepGuide.aspx I suggest looking at the contacts in Section 6 and contacting an SBDC, SCORE or the SBA where you can get some free or low cost help. Ultimately, good legal and accounting advice may be advisable to help you with your...

    2 lawyers agreed with this answer

  5. Does the S-Corp entity have to be registered as DBA as the Dot com business ?

    Answered 5 months ago.

    1. Roman J. Seckel
    2. Markus May
    3. Evan D. Coobs
    4. Stephen Hayes Edwards Jr
    4 lawyer answers

    Others answered #1. As to #2, if you were my client, I would generally advise that you file a dba for the second dot com as well. However, before you get to that you need to consider whether you want to do that business in the same entity or a different entity. I suggest sitting down with a good business attorney to go through those issues as there are lots of implications for the future (e.g. what if one part of the business is to be sold, goes bankrupt, etc).

    2 lawyers agreed with this answer

  6. Does a contract for custom made products have to list a return policy?

    Answered 6 months ago.

    1. Robert Alan Cohen
    2. Markus May
    3. Judy A. Goldstein
    4. L. Maxwell Taylor
    4 lawyer answers

    I would check with an attorney who does mechanics liens. Sounds like this may fit into that description. I don't practice in that area, but send me an email with your county (does your contract provide what county litigation should occur?) and I can probably get you the names of some attorneys that work in that area. Can also give you collections attorney names. Seems like you may have a decent claim since you already installed the windows and performed under the contract. The client got the...

    2 lawyers agreed with this answer

  7. If I am married now currently & buy a business in Illinois. What can I do to protect the company, it's assets if I get divorced?

    Answered 9 months ago.

    1. Colby Graston Hathaway
    2. Judy A. Goldstein
    3. Markus May
    4. Christopher Daniel Leroi
    5. John P Corrigan
    5 lawyer answers

    It may depend on whether the property that is going into the business is premarital or post as well as a number of other issues. The general principle is that property (including a business) acquired during a marriage is marital property. Buy sell provisions in the operating agreement/shareholders agreement can protect other owners and prevent a spouse from obtaining ownership, but this is applicable in a multi-owner entity generally - whether that is you and another entity owned by you would...

    2 lawyers agreed with this answer

  8. Freelancing business - I live in Illinois with clients across USA. Can I setup an LLC in another state to save on filing fees?

    Answered 4 months ago.

    1. Thomas O. Moens
    2. Markus May
    2 lawyer answers

    Agree with Thomas. If doing business in Illinois, which you are as you are doing the work here, you will need to register with Illinois in any event. a related issue is whether you will need to register in other states if you are performing work in those states. This could then result in needing to pay taxes in the other states as well as Illinois and become a real hassle.

    1 lawyer agreed with this answer

    1 person marked this answer as helpful

  9. I need some legal advice

    Answered 6 months ago.

    1. John Sheridan Burke
    2. Markus May
    3. Alan James Brinkmeier
    4. Juliet E. Boyd
    5. L. Vincent Ramunno
    5 lawyer answers

    If this was a general partnership, review the partnership act dissolution provisions and if it was an LLC or corporation, then review those applicable provisions regarding your rights. You said it was a partnership with no contract, so start with 805 ILCS 206 in Article 8. You may wish to hire an attorney to represent you and help you with this as well as negotiating with your ex-friend.

    1 lawyer agreed with this answer

    1 person marked this answer as helpful

  10. Do I need a physical address to register an LLC

    Answered 6 months ago.

    1. Markus May
    2. Alan James Brinkmeier
    3. Thomas O. Moens
    3 lawyer answers

    Sounds like you will be using your home as an office and that is where you will receive payments. Why wouldn't you list that address?

    1 lawyer agreed with this answer

    1 person marked this answer as helpful

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