There are many types of business entities you can form, including sole proprietorships, partnerships, LLCs, and corporations, among others. Many entrepreneurs opt to form a corporation because of the unique benefits that are associated with it, which include: Continue reading “Forming A Business Corporation in New York”
Starting a partnership can be a very exciting time for new entrepreneurs. When starting a partnership in New York, there are several steps to follow. While drafting a partnership agreement is not mandatory in New York, it is recommended so that there are no misunderstandings between you and your business partners. Executing a well-drafted partnership agreement can help your partnership plan for any future occurrences and help your business run smoothly. In drafting a partnership agreement, there are several things that should be covered. Continue reading “What to Consider When Drafting a Partnership Agreement”
The first step to forming a business in New York State is to decide what type of entity is best. Each type of entity has their own benefits, but the decision is often made based on the structure, liability, tax, and management considerations surrounding your future business. A Limited Liability Company (LLC) offers a significant amount of flexibility and allows the business the liability protection of a corporation with the tax treatment of a partnership. Continue reading “Forming a Limited Liability Company”
When starting a business, there are many legal forms the venture can take. Two of the more well-known types are limited liability companies (LLC) and limited liability partnerships (LLP). Although both LLCs and LLPs have similar characteristics to corporations and partnerships, the way these structures are managed and taxed, as well as potential liability can differ.
The Suffolk Times reported that in June, 2015 a North Fork winery was named in a lawsuit for alleged employment discrimination against a transgendered man who worked in the Manhattan store location. The plaintiff claims that he was discriminated against based on being a transgendered male, and that his superiors spoke to him in a disrespectful manner, reduced his hours, assigned him to “menial tasks,” and eventually let him go citing downsizing, while still continually hiring new staff.
Sure there are some times when one size can fit all. Tents, for example. Bathrobes. Umbrellas. But when it comes to starting a business, it really doesn’t work that way.
If you’re a restaurant, or a dry cleaner, or some other kind of business that requires people to walk in your front door all the time, location is the most important consideration.
But what if you’re a wholesaler of electronic parts? If your marketing plan or sales force are good enough, you can be anywhere. Continue reading “When One Size Does NOT Fit All for Business Start Up”