Law Q&A » LLC

Charging Statement, LLC

Legal Information — Mon, 15 Mar 2010 16:45:30 +0000

What is a Charging Statement? I was told it should go along with the Operating Agreement when you set up an LLC? Please provide the statement or where I can look one up. thank you

Guaranteed Payments to LLC Members

Legal Information — Mon, 15 Mar 2010 15:12:18 +0000

I started working for a LLC in 2007 under a signed agreement for $50,000 yearly salary + 2% commission. In 2008, the majority owner was trying to buy out the 49% investors. I was asked if I would like to have a 2% investment in the company. I agreed. A few months later I find out that I now receive guaranteed payments, not wages, where I am responsible for self employment taxes. I have had to take no pay as well when things were slow. Recently, I have not received any “guaranteed payments” for 12 weeks. I am hurting financially and wondering if I have any protection to recoup money that is owed to me. I have the signed offer letter from 2007 when I started working stating my salary. Did this change once I obtained a 2% investment in the company? I think I am being taken advantage of and the majority owner is saying that owners get paid last and sometimes won’t get paid at all. Is he right in saying this and not paying me? I’m in dire need of assistance.

Am I giving legal advice? I have a online business that provides Corporate Certificates of Good Standing ..

Legal Information — Sun, 06 Dec 2009 18:47:51 +0000

I have a online business that provides Corporate Certificates of Good Standing – www.onlinecorporatedocs.com Many clients ask me advise them on which state is the easiest to incorporate & get certified – Should I be recommending a state or would this be considered giving legal advise?

Breaking apart an LLC, Corp in Nj

Legal Information — Fri, 20 Nov 2009 13:21:44 +0000

Looking for information on how one or if one can take themselves off an LLC, Corp. in NJ without canceling the LLC completely?

Non-Profit Organization Board, Delaware

Legal Information — Mon, 09 Nov 2009 20:12:36 +0000

Can a board member of a non-profit organization resign by e-mail or must the resignation be received in writing and submitted to the secretary. We are incorporated in the State of Delaware.

Finding Attorney Towson Maryland

Legal Information — Mon, 09 Nov 2009 04:26:59 +0000

I am trying to find an attorney in Towson Maryland that can do a few different things for me. Please advise me because I think an attorney is my best bet. I am going to incorporate an internet business because I do web development in my dorm room. I am very good in developing websites but I’m afraid that I could get sued for something. What type of attorney and any names or recommendations would be greatly appreciated.

Creating an LLC

Legal Information — Fri, 16 Oct 2009 20:07:35 +0000

I have a small Internet business that is under my name. For personal reasons I’m going to create an LLC. I’ve read a lot of information on where this LLC should be created including Texas, Nevada, Delaware, New York and a few other places. Can someone let me know for business reasons and tax reasons which of the states would be serve me in the LLC process. I want to be protected if I get sued and if I can save a few dollars in the process more the better.

wage garnishment, I am self employed – own an LLC company

Legal Information — Fri, 02 Oct 2009 17:15:48 +0000

I am self employed – own an LLC company, and a debt collector won’t negotiate payments and has threatened garnishment. I know they can’t garnish my wages, but can they put a freeze on any bank accounts with my name even associated with the business? I live in Texas

Small claims suit, LLC?

Legal Information — Mon, 07 Sep 2009 14:42:17 +0000

A tenant just signed a lease with me after looking at the apartment and when she moved in the small cabinet above the toilet had mold in it. She called me and I told her the maintenance man would be out to fix it the next day. She then demanded a refund for the apartment claiming it was not livable and she moved out. She went to small claims court and has filed suit against me personally. The building is in a L.L.C. and the contract is also in L.L.C. If judge rules in her favor can they come after me personally and garnish my wages? What will happen to my L.L.C. if she files lien against that? Will she be able to get anything from me?

State of Florida: how to transfer title of personal auto to a new llc

Legal Information — Sat, 08 Aug 2009 15:03:56 +0000

I just formed an llc in Florida to protect my assets from future creditors. How do I transfer my 2 cars (no liens)? Should I transfer my Homesteaded (no mortgage) to my llc?

Can a dissolved corporation (non-profit) sue?

Legal Information — Sat, 01 Aug 2009 20:49:38 +0000

Can a lawsuit be brought in the name of an HOA in Utah, if the non-profit corporation has been dissolved since 2004 for non-renewal and not having a registered agent in the state?

Left company, Starting my own

Legal Information — Sun, 26 Jul 2009 14:12:53 +0000

I have recently left a company I was working with for 15 months. The business itself is owned by a lawyer ( he has had disciplinary action taken against him by the bar, yet still able to practice law) and at first things seemed on the up and up. I was laid off because of the economy and horrible business practices. He continues to charge the customers credit cards, refuses to talk to them after making promises and false statements, and then would not send the products. He continues to have severe financial problems. I want to start up my own company and I know many states have a law called the Uniform Secrets Trade Act. While working there I was the go to, talk to guy. How can I legally contact my former customers. My business will sell the same products, just under a different name. I just want to be sure that the process is legal. Please advise.

Charity help set up

Legal Information — Tue, 07 Jul 2009 18:36:47 +0000

I have started a charity named beautiful hope, and i was wondering if i have to inc it. and will i need a lawyer to fill out papers. and how much would this would it all cost?

Divorce – LLC

Legal Information — Wed, 08 Apr 2009 20:08:17 +0000

My divorce took over a year. It was finalized in December 08. I started a business in 2001 which is a Limited Liabilty Partnership and my ex-wifes father is my partner. We are now working on dissolving this partnership, just like a second divorce. I never had court orders for alimony or maintenance but I did agree to give her half my income ($5600)/month until the divorce was finalized. Over the course of 2008 she manage to take out a total of $180,000. Now the partnership tax returns have been prepared for 2008 and all the draws she took were applied to my K1. (Did I mention that her mother has been my bookeeper for the last several years?) So not only did she take the money, but It looks as if I will have to pay the taxes. Is there any hope? Our divorce decree states that she is to pay the taxes on any income, but it looks as if this was not considered income. HELP

Question: LLC

Legal Information — Fri, 20 Mar 2009 11:47:15 +0000

can i use LLC to take loans to invest properties?

after a few years bankruptcy without settle the loans by the flaws?

Limited Liability Formation Delaware Vs. Nevada

Legal Information — Tue, 17 Mar 2009 05:33:53 +0000

I live in Kentucky and I’m considering forming an LLC. I would be interested in feedback on the following. I looked up information and the states that seem best to create an LLC are in Texas, Delaware, Nevada and I think NY?? I have viewed several different services online and I’m considering or winded it down to either Delaware or Nevada. It looks like the filing fees are about the same and I’m assuming for tax purposes which I wasn’t fully able to get are pretty similar. I also read that many companies are incorporated in both states with Delaware leading a little bit. I would like to know if anyone is familiar with the filing process or fees and information regarding a way to go here.
Other question is obviously what way to go here regarding doing the LLC. Would you be better off hiring an attorney to make sure its done correctly or do one of these online companies? Attorneys here please don’t get me wrong I see a value in your service but please be truthful and let me know your real opinion. I’m leaning towards getting one of those services to do it for me for a smaller fee.

Delaware LLC Company

askinglaw — Tue, 17 Mar 2009 05:06:55 +0000

I am trying to figure out how to incorporate my business either in an S-Corp or LLC. I have been searching the internet and I figured an LLC is probably the way to go. I am living in Wilmington Delaware right now and I’m moving to Newark next month. There are a few attorneys because of the area that handle limited liability company forming in the state. I am not sure how to proceed? Does anyone have a name of an attorney or can they recommend another type of service for form filing. I want to make sure that I’m protected and I know he S-Corps there are tax liability and IRS involvement in tax filing. This is why I’m considering an LLC. I would prefer something that really doesn’t cost much money. My company is a web site development company. Thanks for your help…

Non-Profit Business leasing space to unrelated LLC business?

Legal Information — Sun, 21 Sep 2008 18:33:50 +0000

Is it factual that a Non-Profit organization can lose their status because I am subletting space in their office? What do I need to do to assure them that they will NOT lose their status? Please advise.

Debt Against Partnership

Legal Information — Fri, 11 Jul 2008 16:18:08 +0000

If one partner in a land partnership has large debt from hospital bills or a nursing home, will the partner lose the land he/she owns?

Collecting on a lawsuit before the defendant goes bankrupt -Rokonkoma, NY

Legal Information — Mon, 07 Jul 2008 19:47:55 +0000

We have a huge problem. Our business partner is avoiding paying us back for credit card debt that he racked up on business cards for personnal purposes.
He is in foreclosure over a few houses and is about 1.2 million dollars in debt. He owes us 25,000. My question is if we sue him to garnish his wages now (even though he hasn’t gotten another job yet) will be not be able to collect if he manages to file for bankrupcy? We are desperate I appreciate any help you can give us. Jennifer, Ronkonkoma, NY