SINCE 1974
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 […]
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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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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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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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As an entrepreneur, you might be wondering how to open a business bank account for a Delaware-based company. The rules vary among banks in the United States, so it’s essential to check with your specific bank. We’ve put together a guide to help you understand the basic rules that all banks follow. Keep in mind, […]
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Forming a Delaware Limited Liability Company(LLC) is a wise choice for real estate investors seeking asset protection and business growth. Real estate investing remains an attractive method for generating income, building wealth, and diversifying portfolios. As with any business venture, it’s essential for investors to carefully evaluate their businesses’ structures to maximize personal asset protection. […]
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Most entrepreneurs are optimistic when starting a new business venture. However, many understand that commerce is inherently risky. According to the U.S. Bureau of Labor Statistics, 20% of new businesses fail within two years, and only 50% make it to their fifth year. It’s ok if you decide to close your business. However, you need […]
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If you want to do business using an LLC, you will need to open a business bank account. Having a separate bank account for your LLC is required to protect your personal assets from business liabilities. Savvy entrepreneurs know they should never mix personal funds and accounts with company assets, so it’s important to know […]
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If you are looking to incorporate a business, you likely have sifted through tons of legal jargon. Corporations, LLCs, partnerships, sole proprietors, the list goes on. Here’s another one: Special Purpose Vehicles. People typically associate Special Purpose Vehicles, or “SPVs”, with major corporations; however, they can be useful for businesses of all sizes. Companies can […]
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According to data from the Bureau of Labor Statistics, about 20% of small businesses don’t make it past their first year. A contributing factor to this statistic is the fact that many business owners do not take advantage of easy tax deductions. If you set up your business as a single-member LLC, there’s a significant […]
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Almost anyone can form an LLC in Delaware. Your company does not need to conduct business in Delaware to form as a Delaware LLC. As a result, companies located in most parts of the world benefit from Delaware’s #1 rated corporate laws and business protections. But this comes with a lot of questions, including details […]
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Do you want to make money while also making a difference in the world? The Delaware Public Benefit Corporation (“PBC”) allows companies to do just that. A Public Benefit Corporation is a for-profit business with a stated “public benefit” purpose set out in its incorporation documents. Delaware PBCs benefit both stakeholders and shareholders, and many […]
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If you’ve formed an LLC but haven’t done business this year, you may be wondering if you need to pay the Delaware franchise tax. Here’s what you need to know. What Happens If I Don’t Pay the Delaware Franchise Tax? If a company fails to pay franchise tax, it will eventually lose its good standing […]
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