Online only business / co-owners in 4 states (IL,ID,PA,NC) / set up as LLC, S-Corp, both? In what state, NV, WY, DE, other?

Generally speaking an LLC gives most flexibility without needing to meet corporate formalities. If the LLC elects to be taxed as an S-Corp. you can...

Is a breach of contract when company does not compensate my company on the dates agreed on in the contract?

Non-payment is usually a breach - I haven't seen a contract where it isn't. However, the remedies may vary. Often you can avoid a suit if they...

You want to ruin a family relationship over $6,000? I say - make up with her and let her have the house (you would probably lose in court anyway as...

Can a judgment against an IL LLC for Chicago RLTO violations pierce the corporate veil to come after my personal assets.

LLC members can have the corporate veil pierced. Courts look at about a dozen factors in determining whether to pierce or not. Be careful not...

I know it's not typical, but can an LLC owner give a personal guaranty to an investor to return his/her original investment?

Personal guarantees for LLCs are becoming more common with sophisticated "creditors." However, I find they are not that common with "investors."...

I am starting an LLC in Illinois. Sole owner. Should I be taxed as a corporation or sole proprietorship?

There's pros and cons to choosing to be taxed as a c-corp, s-corp, or sole proprietor. At the end of the day, most of my clients are choosing the...

If I set up an LLC and want to pay 2 employees in a non-standard way, can I do so?

You have a number of options. You can make these people owners with a second class of ownership interest as mentioned, make them employee, or have...

Approximately how many hours on average will I need to spend with a lawyer to form my LLC?

I echo what the prior responders have said. Be wary by the way of the online legal resource providers. Setting up the LLC is really only a 15 min....

(1) I have a LLC in another state, want to change to S corp to grow locally in IL. Do I have to form a new corp and close LLC?

You may want to keep the old LLC active and just register in IL. You may want to change tax structure on that LLC. You may also want to consider...

Whistle-blower / Employee Contract

I suggest obtaining separate counsel to look at this as well. You may have issues with respect to personal liability if you do not take action to...