I am a majority holder (51%) of an ABC LLC where the other 49% belongs to XYZ LLC with multiple members. When we established the firm and signed the operating agreement, I always dealt with a person, who presented himself as majority holder of XY...
When in doubt, refer to the Operating Agreement. If the other 49% member is an LLC, then an authorized representative can request financial and confidential information. Just make sure it is an authorized representative. Get it in writing. You owe the LLC member a duty to provide information upon request and they owe you a duty to conduct themselves in the best interest of ABC LLC.
If I can be of any further assistance, please do not hesitate to contact me at 516-240-8023. I would be happy to help.See question
It will be an educational company, I will be the sole owner (with up to 4 employees) and seek the option that is the least money and paperwork to set up and has the best tax benefits, as much of the income will be going back to buy supplies and pa...
I agree with my colleagues. You need an attorney and an accountant to explain to you all the pros and cons of each. I work very closely with a great NYC accountant to form all my Corps and LLC.
One note. LLCs are a lot more expensive to form in NY ($2000 or more). Corps are cheaper but they require more maintenance. Ultimately it is a tax issue. If you are planning on having payroll then you should seriously consider a S-Corp.
Please feel free to give me a call at 516-240-8023 if you have any questions. I would be happy to help.See question
Its seems that the limited partner does not want to respect my interest because the corporation is inactive in NYS and I feel I will have to sue -How can I sue being inactive
You can still pursue action against an inactive corporation. However a lawsuit might not be your only option. You are welcome to contact my office for a further consultation.
lease expired 2 years ago, landlord brother took over the house, and I am not really late with my rent, it is just that he want me to pay him every two weeks which I allowed him to pick up rent, now and alittle short but the month is not over yet,...
I agree with my colleague. Your rent is month to month with the same terms as the lease. You are not late with the rent until after the usual time when the rent is due.
Additionally, you have a right to enjoy the property without being harassed. Please refer to the link below:
If this behavior from the landlord persists, you can take the landlord to housing court. While you don't need an attorney for this, an attorney can help you put your case together.
I hope this helps. Good luck.See question
My husband and i owned a company where lifetime warranties were offered. Can a previous customer sue us if they have an issue that their lifetime warranty covered but our business is dissolved?
There are many variables. If it was a LLC or a Corporation then you personally aren't liable unless you committed fraud or misrepresentation. If a sole proprietorship or a partnership then you might be liable. You should also try to remember if you made personal guarantees about the product then you would be liable.
Check with a GA business attorney to get an accurate assessment of your liability.See question
I recently got terminated from my job for stealing. I ended up signing documents admitting what I did and signing a promissory for an amount that lost prevention determined. I'm not really used to dealing with authority figures so when confronted ...
First, stop posting online that you admitted to stealing. Even though the employer agreed to not pursue civil charges you can still get charged criminally.
Second, to get the facts straight: you got caught stealing, ended up admitting it, signed an affidavit to that effect, agreed to pay back a certain amount in exchange for not reporting it to the police, and now you regret agreeing to the amount.
So what are your options? You have no leverage to renegotiate. (Unless you know of third party stealing from the employer.) And You do not have a civil case because you could still be charged criminally.
I suggest that you suck it up and use this as a life lesson. Any available course of action could still lead you to a criminal court. It looks like even though you might be paying more than you should, you ended up in a favorable position.
I strongly suggest you go see an attorney to evaluate the agreement. You don't want to end up getting charged criminally once you pay back the money. The statute of limitations in New York is either 2 or 5 years from the date of the crime based on the facts of the crime.
Hope this helps.
They increased the payment of the lease, lowered the mileage per year and forged mine and my dad's signature. It doesn't even say our names.
It sounds like you have a very good fraud and breach of contract claim. Contact a lawyer as soon as possible. It will be to your benefit to get in front of this sooner rather than later. Do not negotiate with the lessor without a lawyer.
Good luck.See question
My friend and his family is in NY state ...the adult woman (my friends's wife) has SSN and his 2 children are students here..boy is 18 years old but girl is younger...my friend and his wife having SSN is working locally ......how can they get driv...
Please refer to the following DMV form. As long as you can meet those requirements, you will be able to get a learner's permit and driver's license.
I hopes this helps and the best of luck to your friend and his family.
Each home has one vote to elect board members.Does that mean that only one person per home can serve on the board at the same time? Have read the by laws and there is nothing addressing this. Thank you
Refer to the formation and operating paperwork of the board. Unless otherwise stated both owners have a right to sit on the board since they own an interest in the property.
Hope this helps.