BUSINESS ORGANIZATIONS PART 4: CORPORATIONS - FORMATION
Jan 17, 2011
Like LLCs, Corporations must be established in accordance with the applicable laws of the jurisdiction in which the entity is to be formed. While state laws governing the formation of Corporations are ...
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BUSINESS ORGANIZATIONS PART 4: CORPORATIONS - AN OVERVIEW
Jan 17, 2011
The oldest and most prestigious form of legal entity is the Corporation, but like every other form of entity, there are both pros and cons to operating your business as a corporation. Like LLCs, Corpor...
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BUSINESS ORGANIZATIONS PART 3: LIMITED LIABILITY COMPANIES - OPERATING AGREEMENT
Jan 17, 2011
Many states require that an LLC adopt an agreement called an "Operating Agreement", which is similar to a Partnership Agreement, and effectively acts as the combined counterpart to the Bylaws and Share...
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BUSINESS ORGANIZATIONS PART 3: LIMITED LIABILITY COMPANIES - REQUIREMENTS AFTER FILING
Jan 17, 2011
The laws governing limited liability companies in almost every state set forth certain corporate actions that must be taken in order to accomplish what is known as "completing the organization" of the ...
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BUSINESS ORGANIZATIONS PART 3: LIMITED LIABILITY COMPANIES - FORMATION
Jan 17, 2011
Charter document.
Like other entities, limited liability companies are created in accordance with the applicable laws of the state in which the LLC is to be formed. Most state laws governing the c...
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BUSINESS ORGANIZATIONS: PART 3 - LIMITED LIABILITY COMPANIES-TAXATION BASICS
Jan 17, 2011
LLCs that have several owners are Multi-Member LLCs and are generally taxed by the IRS like partnerships, meaning that the LLC files an information tax return but does not actually pay taxes itself. Ra...
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BUSINESS ORGANIZATIONS: PART 3 - LIMITED LIABILITY COMPANIES-AN OVERVIEW
Jan 17, 2011
The Limited Liability Company (LLC) is a relatively new business entity that has gained tremendous popularity in recent years because it overcomes certain limitations and restrictions inherent in other...
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BUSINESS ORGANIZATIONS: PART 2 - PARTNERSHIPS
Jan 17, 2011
A General Partnership is technically formed whenever two or more people operate a business together and share in the profits and losses. However, most States (including Virginia) provide for general p...
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BUSINESS ORGANIZATIONS: PART 1
Jan 17, 2011
INTRODUCTION If you are starting a new business and trying to determine which form of entity to create, it is important to make the right choice. It is impossible to make an informed decision withou...
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