Understanding sales tax responsibilities can be confusing. For businesses with a brick-and-mortar storefront, it’s relatively straightforward. However, the rules get hazy when selling online to customers in other states. Let's review what you need to know about...
Are you aspiring to elevate your business to the next level? Are you expanding your products and services, bringing in new partners, entering into new markets, or adding employees? You might want to complete some important business filings before you take those...
If your Limited Liability Company (LLC) has outgrown its space or you’ve been operating from your home and are ready to move the business to another location, you’ll need to notify certain parties of your address change and update your operating agreement. Changing...
Delaware is known as a business-friendly state for such reasons including its lack of residency requirements, favorable tax structures, legal flexibility, privacy protections, and other advantages. A less friendly aspect of having your LLC based in Delaware is its...
All Corporations, Limited Liability Companies (LLCs), Non-Profit Corporations, and foreign entities registered to conduct business in the State of Colorado must file a periodic report each year with the Colorado Secretary of State’s Business Division. The intent of...
If you’re feeling a bit of whiplash from the wild ride that is the federal court activity related to the Corporate Transparency Act’s Beneficial Ownership Information Reporting (BOIR) Rule, we understand! Just days after FinCEN announced on December 23, 2024 that...
The S Corporation election deadline for LLCs and C Corporations is March 17, 2025. So, if you’re considering changing your limited liability company or C Corporation tax treatment from its default status to an S Corporation, time is of the essence! To be considered...
If you’re wondering if you can bring additional members into your single-member LLC, the answer if yes. There are steps you can take to add members, at which point your business would become a multi-member LLC. There’s more to that question than you might think,...
Throughout the year, we have provided several updates about the 2024 Beneficial Ownership Information Reporting mandate. Recently, there’s another development you should be aware of. The temporary suspension of the BOI reporting rule has been lifted, and reporting...
If you’ve been operating your business as a Sole Proprietorship, you may be wondering when’s the right time to incorporate your startup as a bona fide business entity. There are various reasons to consider incorporation and its important to know your timing can...
The new year is right around the corner, which means businesses across the United States need to start thinking about filing taxes for 2024 It’s time to determine deadlines and research any legislative and tax code changes that may affect you and your company. For...
Choosing a commercial registered agent provides advantages that can significantly benefit your business and help make sure your company remains in compliance with all laws and regulations. If you have a Corporation, Limited Liability Company (LLC), Limited...
Throughout the year, we have provided several updates about the 2024 Beneficial Ownership Information Reporting mandate. Recently, there’s another development you should be aware of. If you haven’t already submitted your BOI report to FinCEN, you’ll want to...
A franchise tax is a fee that some states charge businesses for the right to conduct business within the state. Less than half of all U.S. states levy a franchise tax on businesses like C Corporations and Limited Liability Companies. States that do impose this...
Running a business and staying up to date with LLC compliance can be a bit overwhelming for many entrepreneurs. There are a lot legal requirements at the federal, state, and local level to track and take action on throughout the year. And to make matters worse, the...
Businesses open and close all the time. The U.S. Small Business Administration reports that between March 2021 and March 2022 about 1.2 million small businesses opened and approximately 834,000 closed. If you’re faced with closing your Limited Liability Company...
It’s not unusual for an entrepreneur to change their business from one entity type to another. Most often, someone who’s been running a Sole Proprietorship or General Partnership sees a need to register their business with the state and become either a Limited...
If you registered your Limited Liability Company in the state where you live and you are conducting most of your business in this state, your company is known as a Domestic LLC. It is licensed by the state to do business there and expected to uphold all the laws...
Companies required to file a Beneficial Ownership Information report (ROIR) under the Corporate Transparency Act must share information with FinCEN about their reporting company, beneficial owners, and company applicants. If you're filing the BOI report yourself,...
If you want to open a business bank account for your Limited Liability Company (LLC), apply for a loan or a line of credit, or conduct certain other types of business, you’ll probably need a Certificate of Good Standing, also known in some states as a Certificate...
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