SINCE 1974
We often get questions about LLC stockholders, bylaws, stock certificates, directors, minutes and sometimes a Limited Liability “Corporation.” It’s understandable to have questions about how LLCs are structured and operate. Here’s what you need to know. Are there shareholders in an LLC? Limited Liability Companies do not have stock or bylaws. In fact, LLCs have […]
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You may have seen the “Circle B” logo, but what does it mean? The logo can only be displayed by a Certified B Corporation. These are companies that have achieved a minimum score on an evaluation of their corporate governance, community, employee, and environmental benefits. Here’s what you need to know about this entity. What […]
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If you have ever tried to rent an apartment or lease a vehicle, you are probably familiar with the personal credit system. Your Social Security Number is attached to credit reports generated by major credit bureaus. Potential lenders then use your credit score to assess your ability to borrow money. Much like how a Social […]
Continue Reading We often get questions about LLC stockholders, bylaws, stock certificates, directors, minutes and sometimes a Limited Liability “Corporation.” It’s understandable to have questions about how LLCs are structured and operate. Here’s what you need to know. Do LLCs have stock? Typically, “stock” is not the term used for LLC ownership shares. In most LLCs, the […]
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Whether you’re interested in forming a corporation or are just curious, it’s understandable to wonder, “What does the President of a Corporation do?” Traditionally the President of a Corporation is the highest executive officer. The Bylaws of the Corporation set forth the role of the President. Some businesses have also established higher offices, such as […]
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Incorporating your company is an exciting process, but the work isn’t done after you form an LLC or Corporation. After that, there are several more steps to take, like getting a tax ID number for your business. The process of getting a tax ID isn’t complicated, but there is often some confusion about what, exactly, […]
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Starting January 1st, 2024, owners of U.S. businesses will need to comply with new rules. The Corporate Transparency Act (CTA) is a federal law that requires business entities, like LLCs and corporations, to report information about their owners to the Financial Crimes Enforcement Network (FinCEN). These new reports are called “Beneficial Ownership Information Reports”. Honest business […]
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Business entities operating in the United States need to prepare for new compliance requirements taking effect on January 1, 2024. The Corporate Transparency Act (CTA) requires LLCs and corporations to submit BOI reports to FinCEN. These reports contain basic information about a company’s significant owners and important decision makers. Whether your business is a solo […]
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“Can I see your evidence of filing?” That is what the banker said when I went to open my business account. The banker then said can I see your “articles?” How about the “proof” your company was formed? These terms are all synonymous. Banks need certain documents for “know your customer” law compliance under the […]
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Before doing business or owning assets through a single-member Florida LLC, you should consider either adding a nominal partner or using a Delaware single-member LLC instead. Florida is the most popular state for business formation. Florida has more active business entities than even the state of Delaware. More than 2.6 million entities are active in […]
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The Internal Revenue Service (IRS) uses several different types of identification numbers for individuals and businesses. Most U.S. citizens are familiar with Social Security Numbers or Employer Identification Numbers, however, not everyone knows about the other types of federal tax ID numbers. In this article, we discuss Individual Tax Identification Numbers, or “ITINS”. We breakdown […]
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The term “subsidiary” is used often in business, however, you might not know exactly what it means. Subsidiaries are an important part of the legal structure of nearly every large company. In this article, we discuss what subsidiary companies are, how they are used, and the best way to structure them. What Is A […]
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The solar energy industry has been experiencing remarkable growth, driven by increasing demand for renewable energy solutions. As solar companies expand and navigate the complexities of the market, selecting the right business structure becomes a crucial decision. Forming a Delaware Limited Liability Company (LLC) offers many benefits for solar companies. This article explores why Delaware […]
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Who owns and manages an LLC? If you’re thinking about setting up a Limited Liability Company (LLC), it’s helpful to understand the roles of LLC owners and how they’re involved in managing the business. LLCs offer the flexibility to create unique management structures, pick officer titles, distribute management responsibilities, and outline ownership interest. In this […]
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What is a corporation? Corporations are a type of legal structure that play a significant role in the business world. Entrepreneurs use the legal structure of a corporation to protect themselves from risks and grow their businesses into large enterprises. You interact with businesses set up as corporations nearly every day, however, you may not […]
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As a business owner or entrepreneur, you may have come across the term “holding company.” Holding companies are a type of legal structure utilized by businesses across various industries. When set up correctly, a holding company can offer unique legal protections that a single business entity cannot achieve. Many well-known corporations use holding companies as […]
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If you’ve formed a Delaware LLC but haven’t conducted business this year, you might be wondering if you still need to pay the Delaware Franchise Tax. Here’s what you need to know. What Is The Delaware Franchise Tax, Again? The Delaware Franchise Tax is an annual requirement that all companies registered in Delaware have to […]
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If you own an LLC or corporation, you might have encountered the term “Certificate of Incumbency.” Maybe a bank or a lender requested this Certificate to secure a loan for your business. What exactly is a Certificate of Incumbency? This article delves into Certificates of Incumbency, explaining what they are, why they are used, and […]
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Permanent residents of the United States, including US green card holders, can start businesses and form LLCs in Delaware. In fact, individuals from nearly any country worldwide (with the exception of restricted countries) are eligible to establish a Delaware LLC. If you’re a permanent resident aspiring to achieve the American Dream, creating an LLC for […]
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Delaware corporations need to fulfill an important legal requirement: filing the Delaware Annual Report. The Delaware Annual Report is a set of business information that needs to be submitted to the Delaware Division of Corporations each year. Filing the Annual Report is crucial for maintaining a Delaware corporation’s good standing in the state. Corporations are […]
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Limited Liability Companies (LLCs) are a popular entity choice for business owners because they’re easy to manage. But did you know that even within LLCs, there are different management structures to consider? In this article, we dive deep into the two types of management structures for LLCs: Member-Managed LLCs and Manager-Managed LLCs. What […]
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If you’re setting up a Delaware LLC or Delaware corporation and wondering if you can serve as your own Registered Agent, the short answer is yes. However, there are some significant drawbacks to acting as your own Registered Agent in Delaware. It’s important to weigh all your options, including the possibility of engaging a Registered […]
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If you have a Delaware LLC or corporation, there will be times when you will need to check the company’s status and obtain a Delaware Certificate of Good Standing. In this article, we’ll discuss some key details of Delaware Good Standing Certificates, including how to secure one for your Delaware company, the costs involved, […]
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After forming a Delaware LLC or corporation, many business owners wonder, “What’s next?” One crucial part of running a business is maintaining your company’s good standing status. In this article, we delve into what good standing means and guide you on how to maintain your company’s good standing status in Delaware. We also discuss how […]
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Setting up a limited liability company (LLC) is a big first step towards starting or growing your business. But it takes more than just deciding on a company name to get your LLC off the ground. One essential legal requirement is appointing a Registered Agent for your company. In this article, what breakdown of the […]
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Is the first step applying for a business license or forming a Delaware LLC? Unlike the chicken or the egg, this question has a definitive answer – the LLC formation comes before the business license. In order to begin doing business under a business license, you must first have formed the applicant. The LLC should […]
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Understanding the role of a Delaware Registered Agent is an important part of incorporating a business. Did you know that Delaware law requires every company registered in Delaware to have a Registered Agent? So, if you want to form a Delaware LLC or a Delaware corporation, you will need to know how to meet this […]
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If you have applied for a loan with your corporation as the borrower, you may have heard the term “Delaware Certificate of Incumbency”. What is a Delaware Certificate of Incumbency and when do you need one? Navigating corporate documentation is crucial for business operations, especially when engaging in financial transactions or significant changes in […]
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A Corporate Secretary can be a valuable asset to a corporation as it grows. But what does a Corporate Secretary do, exactly? Are companies required to have one? We dive into the details of what a Corporate Secretary is and why they are important. What Is a Corporate Secretary? A Corporate Secretary is one of […]
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Have you ever wondered if it’s a good idea to start more than one LLC? Well, you’re not alone. Many business owners consider setting up multiple limited liability companies, and there are plenty of reasons why. It’s like having different baskets for your eggs – it can keep them safe. But forming LLCs is not […]
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Limited liability companies, or LLCs are the most popular business entity type for entrepreneurs. Small business owners prefer LLCs due to their flexibility and simplicity. Unlike corporations, the structure of LLCs does not come with strict requirements. LLC owners are free to run their company the way that they see best. This flexibility however often […]
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If you’re a small business owner with an LLC, you’ll probably need to prove your ownership in your company at some point. This requirement comes up during crucial business functions, like opening an LLC bank account. Since proving ownership in an LLC is such an important part of running a small business, here is our […]
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In 2024, over 30 million businesses will need to meet new compliance requirements. The Corporate Transparency Act (CTA) takes effect on January 1st and mandates U.S. companies to file Beneficial Ownership Information (BOI) reports with FinCEN. All types of businesses will be impacted by the CTA. However, startups may find BOI reporting requirements especially challenging. […]
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If you run a small business, you’ve probably never heard of the Financial Crimes Enforcement Network, or “FinCEN”. However, starting in 2024, over 30 million businesses in the U.S. will need to get familiar with this government agency. With the Corporate Transparency Act going into effect, businesses of all sizes are preparing for new federal […]
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In a time where financial transparency is essential, the Corporate Transparency Act (CTA) brings new compliance requirements for U.S businesses. Understanding these new requirements is crucial for business owners, managers, and stakeholders to avoid significant penalties, including fines and jail time. Starting January 1st, 2024, U.S. businesses will need to disclose information about their […]
Continue Reading Starting January 1st, 2024, owners of U.S. businesses will need to comply with new rules. The Corporate Transparency Act (CTA) is a federal law that requires business entities, like LLCs and corporations, to report information about their owners to the Financial Crimes Enforcement Network (FinCEN). These new reports are called “Beneficial Ownership Information Reports”. Honest […]
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Many business owners strive to balance running a profitable business with doing good for the planet. As businesses grow, enforcing standards and achieving sustainability goals becomes more challenging. One successful strategy that businesses use to pursue both profits and purpose is to incorporate as a Delaware Public Benefit Corporation, or a “PBC”. But what […]
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If you own a Delaware Limited Liability Company (LLC) and want to start doing business in Texas, you might have questions. Can a Delaware LLC do business in Texas? Absolutely, but there are some steps you need to follow first. This process is called foreign qualification. Foreign qualification may seem challenging, but in this comprehensive […]
Continue Reading As a business owner or entrepreneur, you may have seen the term “holding company” before. Holding companies are a type of legal structure used by businesses across many different industries. If done right, a holding company can provide unique legal protections that cannot be achieved with just one business entity. Many well-known corporations use holding […]
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If you have a Delaware LLC or Delaware corporation, there are some annual requirements that you need to know about. If you haven’t kept up with these requirements, your company may have gone “void” or “inactive.” But what does it mean if your Delaware company goes void and what should you do? Letting […]
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