Why your business should have an EIN, even if it’s an LLC. Is the information you submit to the IRS about your business accessible to the public? Confused by some of the questions on the SS-4 form? We provide you guidance. If you have an LLC, you might wonder whether you need an EIN. An EIN, […]
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What Fees Are Required with an LLC? Every LLC registered in the State of Delaware must pay a flat tax of $400 each year. Delaware assesses this tax regardless of business activity or non-activity. This “tax” is really more of a fee for the privilege of having a Delaware LLC and being able to access […]
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When Will South Dakota Form Series LLCs? The state legislature introduced South Dakota’s House Bill 1179 on January 30, 2020, containing authorization for Series LLCs. South Dakota’s Governor signed it into law on March 23rd. This amended §47-34A-101 et seq., of the South Dakota Uniform Limited Liability Company Act. Under the act, South Dakota will […]
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What is a Principal Place of Business? The principal place of business is the headquarters where business decisions are made. This is also called the “nerve center” where the executives are. Contrast this with the “muscle center” where activities like production take place. However, modern civil procedure deems your principal place of business to be […]
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What Are the Main Differences Between Non-Profit and For-Profit Corporations? The primary difference that separates for-profit entities and non-stock corporations in regard to acquiring tax-exempt status is their legal structures. On one hand, traditional for-profit entities can pay out profits and pay big salaries limited only by their managers’ legal and contractual duties to the […]
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An increasing number of people are finding themselves either self-employed or engaging in short-term employment arrangements. These individuals are typically actors, content creators, gig economy workers or consultants. These employment arrangements can come with many benefits, however, they may also pose a tricky tax situation. An effective strategy for self employed individuals to reduce their […]
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