We've mentioned operating agreements in a few blogs, and we thought we'd go over it in more detail in this entry. What is an operating agreement and why does my LLC need one? An operating agreement is a key document for an LLC with a sound legal foundation. An agreement that is acceptable to all managing members of the LLC, even if you are a sole member of the LLC, will help your business run as it was intended. Well written operating agreements should give the LLC members peace of mind. We'll map out the basics of a good operating agreement below.
Moving Your Business Entity To Nevada
There are many things to keep track of as a business owner. One of those is your business's current status with the State of Nevada. Keeping an eye on your standing with the state is simple but it's not uncommon for businesses to find themselves in default or revoked status. There are also business owners that find that their business has run its course and decide to dissolve the entity with the state. There is clearly a difference between dissolution and revocation. What are the differences and is it okay to let a business be revoked?
There are many advantages in Nevada for businesses and entrepreneurs. However, minority-owned businesses have historically been less successful in the state. Many minority-owned businesses don't have access to needed capital. Along with capital, they need proper management and training in order to contend for contracts and stay alive in the market. Beginning next year (2018), Assembly Bill No. 436 will require the Secretary of State to ensure that information for private and public programs to obtain financing and certifications are available to disadvantaged business enterprise.