An "owner" of a limited liability company ("LLC") is referred to as a "member." Is it possible (or wise) to have a limited liability company whose members include a minor? Consider the following... LLC members' interests and rights... As a starting...
Corporate Transparency Act On January 1, 2021, Congress enacted the federal Corporate Transparency Act ("CTA"). In general, the CTA requires existing and new corporate entities, including limited liability companies ("LLCs"), to submit to the United States Department of Treasury...
Corporations and limited liability companies exist separately and distinctly from those who operate them. However, they may be liable for the acts of those who operate them---even when the connection seems somewhat remote. Consider the following... When the dog bites... In...
There can be special challenges in new ventures. A business venture often faces significant budgetary constraints in its start-up phase. Thus, prospective business partners commonly seek to manage legal expenses by retaining a single attorney. So, what’s the problem?...
Until this year, federal law did not require most small businesses to report information about the ownership and control of their companies. A new law has changed all that. Consider the following... The new law... On January 1, the National Defense...