The conventional wisdom goes something like this: The reason that a small business should form an LLC is because it makes their business in to a legal human being. Once your business is an LLC, it can buy and sell, it can pay taxes, it can be sued, and it could sue. It can do everything that a biological […]
Forming an LLC, when compared to other items you may need for your business is easy. If you have ever applied for a patent, you know that it takes a long time, requires a specialized patent attorney and will most likely cost no less than $10,000 and almost always much more than that.
Keeping a limited liability company compliant within state regulations can be a headache. While regulations can be different from state to state, many are similar. The state of Arizona has issued a list detailing a number of ways LLC owners often make mistakes.
Massachusetts Representative Barney Frank – the chair of the House Financial Services Committee – says that he expects a rule exempting small and medium businesses from costly audits to survive negotiations between the House and Senate. The rule was mandated in the Sarbanes-Oxley Act.