I am about to purchase a franchise that I will operate in PA and would like to know if I should form a LLC or S Corp.

Either entity will serve the same basic purpose: limiting your personal liability to the amount of your invested capital. If you are going to be...

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I am a shareholder of an S corporation. We had 5 shareholders. One left. Does the corp. need to buy his shares and redistribute?

If you have a shareholders' agreement, odds are that it gives you the right to repurchase the shares. It may, as well, give the departing...

How solid is limited personal liability while incorporated?

You should immediately hire an attorney who specializes in business litigation. I see a few avenues of recourse, including piercing the corporate...

Dissolution of s-corp in NJ

In the state of Washington, where I practice, you would file articles of dissolution. Part of that process involves making provision for...

Best place to incorporate for a small business?

Generally speaking, the best place to incorporate is the state in which you plan on operating your business. If you aim to be a nationwide company...

Should my partner and I transfer the property we just purchased to our LLC for tax purposes

It sounds like your business interest in the house is effectively a "partnership" now. If you form an LLC, you will likely be taxed as a...

I am starting a summer day camp by myself and have begun doing all of my paperwork under sole proprietor. Should I become LLC?

I would advise you to organize your business in the form of an entity that affords you limited liability protection, such as an LLC. I would also...

Starting a new 'organization,' is it legally a 'non-profit'?

Your organization is not a non-profit until the IRS says that it is. You need to apply using Form 1023: ...

Doing business in another state.

You are obliged to comply with the regulatory laws of any state in which your activities have a "nexus." Clearly your activities have a nexus with...

Where to start a LLC if overseas?

Your question is probably best answered by your CPA. Food for thought: 1. The vast majority of the time one would form a new business in the...