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.
Earlier in the year, we talked about things to consider before signing your commercial lease. However, we didn't dive into understanding your lease or cover the common mistakes business owners make before signing their lease. As you read this, keep in mind that a lease between a landlord and tenant can supersede certain sections of Nevada law to the extent of any conflict. Since a lease can have an enormous influence on your business, we thought it would be best to follow up on this topic. In this blog, we'll discuss the key points you'll want to keep track of as you review your commercial lease.
The range of nonprofit organizations in Nevada is ever growing. It's no secret that nonprofits are eligible for a federal tax exempt status and this makes forming this type of entity popular with potential business owners. But the increasing popularity has also brought more dishonesty. In the current climate of nonprofits, with news stories of organizational corruption increasing, the Internal Revenue Service began to narrow its focus on the organizations and excess benefit transactions.
It wasn't long ago when documents weren't saved on a hard drive, a server, or sent via email. Today's businesses have gotten very good at going paperless and as a result have gotten more efficient. E-signatures are a big part of the efficiency and are essential for people on the go. They are common now but there are still some lingering questions related to e-signatures.
It is important to understand how a sole proprietorship effects your life and your finances. A business formation lawyer can guide you through the details, but below are some issues and rewards to consider.