Transfer TX LLC ownership in asset purchase

You can require the seller to transfer the rights to the name to your corp as part of the Purchase Agmt and require a covenant that the seller will...

Both LLC's and C-Corps exempt from California $800 Franchise Tax the 1st year?

This is becoming an urban myth. The history is that around Y2K California tried to become business friendly and offered a moratorium on the...

How best to determine an anonymous "Buyer" in a patent sale?

An offer of stock in an anonymous company makes no sense at all. As you say, it’s impossible to evaluate it. Have they offered a clue as to...

What type of incorporation would be best for our small business?

See my Legal Guide "Should my Business be in an LLC, an LLP, an S Corp, a C Corp, a PC or a sole proprietorship?" To find it click on my name or...

No, inherited money is not subject to income taxes. If any estate or inheritance taxes are due, they are paid out of the estate. So your gifts...

I think my biz partner (he is 60% owner, I am 40%) is hiding funds, what are my rights as a "lesser" percentage owner?

Partners in a partnership have a fiduciary duty (the highest) to each other. In a word he must treat you fairly, and if he takes assets of the...

What is the best way in Texas for me to be the sole member of an LLC but not have my name on any of the documents.

The first answer that comes to mind is to form the LLC under the laws of Delaware or Nevada, both of which respect owner privacy. You will need a...

May a promissory note specify that the contract be canceled and the funds revert to the Borrower if the lender dies?

I have seen this done, but it might be construed as a nontestamentary disposition, i.e. avoiding a will. If MN permits holographic wills, you...

Affidavit of non-compliance

No, you won't go to jail. It is not a crime to owe money, and you evidently did not steal anything. Yes, you should call the Company and explain...

How do you go about obtaining a 501 c 3 for a fundraising group dealing with youth sports?

There are many nonprofit tax categories. You need to qualify as a nonprofit under IRC 501(c)(3), which permits deduction of contributions by...