A series LLC is a limited liability company with one or more internal divisions. Each division of a series LLC may have separate business activities, objectives, liabilities, assets, members, and even managers. Each series of the limited liability company is protected from the liabilities of the other divisions and even from the LLC itself. The flexibility of a series LLC is convenient for those looking to form a single legal entity that is composed of separate distinct asset portfolios and/or ownership structures.
A non-compete agreement aids businesses in protecting sensitive information. A well written non-compete agreement can protect a business' interests in many scenarios. This information can range between a wide variety of business aspects which include strategies, financial info, specialized training, clientele - you name it. These types of agreements are important for any business that employs people who are subject to sensitive information. We've discussed the most recent changes to Nevada non-compete agreements in a previous blog (Is Your Nevada Non-Compete Agreement Still Valid?) and today we'll go into more detail as to what you would want in a non-compete agreement as a business owner.
The filing requirement for Commerce Tax has been changed. If the Nevada gross revenue of your business from July 1, 2018 through June 30, 2019 was $4,000,000 or less, your business is no longer required to file a Commerce Tax return and your Commerce Tax Account will be automatically closed, effective June 30, 2019.
There are many ways to help your business's bottom line. One of the fastest ways to achieve this goal, if done correctly, is through mergers and acquisitions. You've probably heard of the term before, and have a general understanding of what happens to companies when this occurs, but what exactly happens when a company merges with another or is acquired? The answer to that depends on the goals of the businesses involved. In this blog, we'll cover the options you have to consider as it relates to structuring your business entity for a merger or acquisition.
Moving Your Business Entity To Nevada
Company holiday parties are a customary and traditional way for employers to show appreciation to their hard-working, loyal employees. It's also a great way to boost company morale and create a better work environment. However, there are instances where the best of intentions can backfire and create big complications! As fun as company holiday parties may be for everyone, it can be a breeding ground for legal issues. Unfortunately, it can even lead to some of those loyal employees losing their jobs. There are many potential party pitfalls to consider. In this blog, we'll cover the more common minor mishaps as well as major ones.
Congratulations on securing your State License from the Nevada Secretary of State. So, what now? Can you legally conduct business? Well, more often than not, your business will be required to have a local license at the county or city level. Depending on the operation of your business, you may be required to secure what's called a "privilege license" in Nevada.
Classifying as a nonprofit organization has always been a popular choice for Nevada business owners when deciding on the classification of their new business entity. Not all businesses can be classified as a nonprofit or 501(c)(3), however. To qualify for 501(c)(3) status, an entity must be formed for charitable, educational, literary, religious, or scientific purposes. A 501(c)(3), as many people know, is eligible for federal and state tax exemptions - and thus drives the popularity of the classification. In this blog, we will go over things to keep in mind if you're thinking of forming a nonprofit organization.