Several recent court cases remind us to include confidentiality obligations into each LLC Operating Agreement (see legalese commentary here and here). You see, under New York law, executive LLC members, i.e. managers, have a duty to keep the Company's valuable secrets secret. Other members, however, are not necessarily bound to keep their mouth shut. […]
What do you usually report on Form 1099? Correct, payments to independent contractors. On January 1, 2012, businesses large and small may have to wake up to a whole new game when it comes to fling Form 1099. From then on, they are required to issue 1099's to every vendor to which they make payments […]
Another important part of an LLC Operating Agreement deals with the “capital” that comes into the LLC and with the corresponding percentage ownership rights of the individuals or entities providing such capital. Capital typically comes in upon formation of the LLC (initial capital contributions by the members) or over the course of the life of the […]
Today is National Bike-to-Work Day. In that context, you may not know yet that New York City business owners and office tenants have certain rights with respect to storing bycicles in office buildings under the Bicycle Access to Office Buildings Law.
I posted the other day about the government's increased efforts to crack down on misclassified independent contractors. "Misclassified independent contractors" are workers who should really be employees of the business, In other words, these workers are entitled to workers compensation and disability insurance, unemployment benefits, tax withholding by the employer and so forth.. Here are some pointers on making […]
Not really law related, but, in my mind, pretty big for small businesses everywhere. You can now accept payments from customers by having them swipe their credit card through a little add on plastic thingy that plugs into your iphone, ipad or android. It's called Square mobile payment system and apparently it went life today in […]
Nonprofits are businesses that made it their mission to give away all of their profits to a particular cause, rather than enrich the owners of the business. Starting a nonprofit organization is in many ways like starting any other small business in New York. But there are additional steps required in order to get the […]
I guess there are two ways how you could save on that unfortunate LLC publication requirement in New York, which will easily set you back $700-1000 in New York City. (If you don’t know what that is, look at “Taking Care of the LLC Publication Requirement“.) 1. You could just not do it; do I […]
Five Common Employment Law Hazards for Start-Ups by Michael L. Rosen | Foley Hoag LLP.
According to an advisory opinion by the New York State Department of Taxation, the bulk of what the typical IT Support Business sells to its clients is NOT due to sales tax. But read the fine print in this opinion for some items that may incur sales tax.