I have recently bought a truck and I'm a sub hauler, and someone told me about setting up a corporation account and or LLC account, if incase in case of an accident if someone sue , then it should not effect me but only company will be affected.so...
In case of an accident, the person at fault will be responsible. Insurance will help mitigate the financial burden. An LLC will generally offer better protection than owning the truck directly. Please consult a business attorney to create the LLC and also to understand all risks involved.See question
in real state in California.
Set up a legal entity and then handle the real estate transaction through it. It should help achieve your purpose. Please consult a knowledgeable business attorney to create the entity for you.See question
We are a start up Online company that has 3 partners. Originally without any written agreement, it was perceived that the 3 partners acted equally. As we are formally creating a General Business Partnership Agreement, the area on "Management and A...
A general partnership may not be the best structure for you. I strongly recommend that you engage a startup/business lawyer to handle this for you. It will be disastrous if you start on the wrong note without understanding the implications of what you have done and plan to do in future.See question
Is it possible for a non-U.S. citizen living in India to set up a company in U.S.? If it is possible, then what structure do you propose? In which state should the company be set up?
Yes, a non-U.S. citizen can (and we have in fact assisted several such Indian individuals/citizens) set up U.S. companies. Most set up a 'C' corporation and many do so with incorporation in Delaware and headquartered in the state where they actually do business. That said, the exact structure and state where to set up the company (including whether or not to go through Delaware) will depend on various factors that are primarily driven by your business plans. Please work with a knowledgeable attorney well versed with U.S.-India transactions to handle it for you as there would be issues to consider both under U.S. laws and Indian laws. Also, please avoid the temptation of doing it yourself or engaging an online vendor as you will most certainly enter into roadblocks in the set up process. We are not allowed to solicit clients on Avvo, so feel free to do a search and reach out to the attorneys here who you think would be best able to assist you. Good luck!See question
My business partner died 6 years ago. We never had a formal written business arrangement, and did not regularly hold meetings or take minutes. I am trying to transfer a liquor license now, and the company purchasing it wants corporate minutes fo...
If there are corporate actions or decisions that you had taken at a given point in time but did not document them in writing for whatever reason, you could always create a documentary record now in the form of corporate minutes.See question
I am a foreign national and came here with B1/B2 visa. And I set up an LLC successfully ( I am the 100% member). But when it comes to bank account opening, the bank told me that I need to obtain ITIN from IRS in order to get EIN number from IRS fo...
It is certainly possible to open a business bank account for a U.S. company that is 100% foreign owned and controlled but only under very limited circumstances. You should engage a knowledgeable person/firm to handle it for you. Also, you may want to re-check whether or not LLC is the best entity structure for your U.S. entity.See question
my husband and partner started a consulting business
You will not have any ownership interest in the business without any agreement (written or oral) between your husband and his business partner. That said, you would be able to claim community property interest in your husband's ownership stake in the business and its profits. Please consult with a business lawyer if you any specific concerns.See question