Can I register my business as Delaware S corp even though it only does business in MA? How is income taxed this way?
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Answered on November 16, 2010
You do not need to form another corporation - you can use the existing DE corporation even if you do business only in MA. You have to file a...
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I am trying to form an LLC that is going to be solely operated online. What can be done or needs to be done?
John's answer
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Answered on October 28, 2010
It sounds like what you want to know is which state do you have to form in LLC in. The company must have a principal office, and must either be...
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We own an LLC and want to take on a partner. Can we sell a % of our LLC to the partner? and does that money go to the LLC or us?
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Answered on October 25, 2010
Subject to any restrictions in the LLC operating agreement or state law, you can sell part of your own interests to the new person, in which case...
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Filing a mortgage on a business investment
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Answered on October 22, 2010
As already answered, the accountant has suggested that you secure the loan with the assets of the business. You will need a promissory note, a...
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Need to separate ties with S corp, what are the proper procedures, filings etc?
John's answer
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Answered on October 18, 2010
A lot depends on what you mean you were "bought out." If you sold your shares, then you have no tie to the corporation going forward, though you...
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A Partnership Agreement has been in effect, although not signed, for three months. Now Partner wants to change it.
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Answered on October 18, 2010
You don't say if your majority partner is taking those actions pursuant to authority granted under your written but unsigned agreement . As a 52%...
Can my LLC business partners take me off the business bank account without my consent? Can I sue?
John's answer
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Answered on October 15, 2010
Removing you as signatory on the bank account does not really constitute a dispute. Authority to open and close bank accounts, and add and delete...
Does just filing a DBA make me pay business taxes?
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Answered on October 14, 2010
Just filing a DBA should not change your tax obligations. The prior response outlines those tax obligations. Filing the DBA is done under state...
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In a stock sale, does the owner/president of the corporation have a duty to maintain inventory to continue business as usual?
John's answer
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Answered on October 14, 2010
Depletion of inventory gets to the issue of how much working capital you expect to be in the business when you buy it. What the seller can do with...
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During the sale of a business, how is pre-enrollment revenue split between previous owner and new owner?
John's answer
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Answered on October 13, 2010
As already answered, there is no "rule" for this situation: you can negotiate this issue any way you want. That being said, it would not be...
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