SINCE 1974
Can I save money on taxes with a Delaware LLC? Here are ways that a Delaware LLC could save Federal income and employment tax. After forming an LLC, there are three alternative tax regimes. No action is required for the first one, and the other two tax elections can be elected into if you think […]
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IncNow President John L. Williams has been selected by the Delaware State Bar Association to serve as a speaker at the inaugural Starting a Law Practice seminar. The two-session seminar, sponsored by the Law Office Management Assistance Program of the DSBA, is geared towards Delaware attorneys looking to build their own firm.The seminar will cover a broad […]
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Almost daily there is speculation in the media and in discussions among investment professionals about whether or not the Federal Reserve will raise or lower interest rates, or keep them at the same level. Changing interest rates is not as simple as issuing a press release stating what the rate will be. It is far […]
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Unlike a Delaware corporation, a Delaware limited liability company (“LLC”), is characterized by the following “built in” attributes often not found in the documents, older rules and stricter formalities that apply to corporations. Of utmost importance to the Delaware LLC’s desirability is the freedom of contract for its members in arranging the organizational structure of […]
Continue ReadingUPDATE: In the aftermath of the Green Hunter Energy case, Wyoming legislature recently added two new subsections to its LLC Act that will make “piercing the veil” of a Wyoming LLC more difficult. The law has been amended to address the limited liability of Wyoming LLC Members, which was weakened by the Green Hunter decision: […]
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Once a business is incorporated, is the liability protection retroactive? Are you protected against business liabilities that arise from pre-incorporation decisions? Is the state fee prorated if you incorporate later in the year? Dear IncNow, When is the best time to incorporate a business? If money has already been spent before incorporation, should it be […]
Continue ReadingDelaware Courts will enforce your Delaware LLC Operating Agreement as written. It’s important to document the essential business understanding from the outset. Anyone starting an LLC in Delaware should have a written Delaware LLC Operating Agreement detailing the management and ownership structure. An LLC Agreement is required in Delaware and although the verbal agreement is legal, […]
Continue ReadingShould you create another LLC to insulate hot assets from cold assets? The main reason to segregate assets into ring-fenced islands of brother-sister LLCs is to prevent a fire on one part of your business destroying assets in another part of your business. Let us say you are planning to open a fitness center business. […]
Continue ReadingSince one of the first steps in opening a business is launching a website, that may be the first thing you should protect. This is especially true if your website is particularly unique or creative. While you obtain rights merely by publishing it and marking the page copyrighted (e.g., © 2015 Agents and Corporations, Inc. […]
Continue ReadingOn November 20, 2014, the American Bar Association Real Property, Trusts and Estates Section appointed IncNow President John L. Williams, Esq. as an American Bar Association (ABA) Section Advisor on the Uniform Laws Commission (ULC) committee to draft Series LLC provisions that numerous states will use as a model for laws establishing series entities, including […]
Continue ReadingMommy Blogs have exploded in popularity in the last few years. Now anyone with a computer or smartphone is able to express her opinion to potentially millions of female household decision-makers on easy-to-use and often free or inexpensive platforms such as Tumblr and WordPress blogs. Due to the perceived informal nature of a blog, mommy […]
Continue ReadingAnyone who can incorporate in another state can decide instead to incorporate in Delaware. U.S. constitutional law allows you to incorporate in Delaware with the same rights and privileges as a business incorporated in your home state. The difference is that Delaware law will govern the internal affairs of your business. People from all over […]
Continue ReadingA new Delaware law confirms that the charging order is the sole and exclusive remedy for judgment creditors. This means that other remedies, such as attaching, garnishing, and foreclosing on the interest are not permitted under Delaware law. Charging orders mean that a debtor’s interest can only be assigned to a judgment creditor, giving only […]
Continue ReadingDelaware is one of the best states that offers the self-funded Asset Protrction Trust (“APT”). This trust is designed to protect assets from future creditors, yet provide an income benefit to you, the donor. This is a trust commonly used by medical and dental professionals, executives, business owners, to hedge against future business and professional […]
Continue ReadingPotomac Boathouse John Williams is attending a 2-day conference in Washington, D.C. called the LLC Institute. Jay Adkisson is now presenting on charging orders. His position is they should not exist. They are a historical bastard. Creditors don’t use this usually. They use alter ego or something else. There is no uniformity between states on […]
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