Post Archives for Matthew Dochnal

What Is a Certified B Corporation?

By Matthew Dochnal March 31, 2025

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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What is a DUNS Number and Do I Need One?

By Matthew Dochnal January 27, 2025
business credit report

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 […]

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What Is A Beneficial Ownership Information Report?

By Matthew Dochnal January 3, 2025
business regulations

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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How to Comply With The Corporate Transparency Act: Tips for Small Businesses

By Matthew Dochnal

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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What Is An ITIN Number?

By Matthew Dochnal July 12, 2024
individual tax identification number

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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What Is A Subsidiary Company?

By Matthew Dochnal July 8, 2024
Google headquarters with statue in front

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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Why Solar Companies Should Form Delaware LLCs

By Matthew Dochnal May 28, 2024
solar energy

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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LLC Members and Managers: Who Are LLC Owners?

By Matthew Dochnal
two small business owners opening a cafe

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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How Do Corporations Work?

By Matthew Dochnal
a board of directors gathered around a table holding an annual meeting

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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What Is An LLC Holding Company?

By Matthew Dochnal May 17, 2024

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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Do Delaware LLCs Have To Pay Franchise Tax?

By Matthew Dochnal May 16, 2024
franchise tax

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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What Is A Certificate of Incumbency? And How To Get One.

By Matthew Dochnal May 15, 2024
corporate documents signed by an officer of the company.

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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Can A Green Card Holder Set Up A Delaware LLC?

By Matthew Dochnal May 10, 2024
United States green card

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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How To File A Delaware Annual Report

By Matthew Dochnal April 30, 2024
franchise tax payment

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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How Are LLCs Managed? Member-Managed vs. Manager-Managed

By Matthew Dochnal April 24, 2024
small business owner packing boxes

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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