LLC v. S-corp

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The first question for every small business owner who decided to form an entity?  LLC or S corp?  Which one is better for me? Let's face it, most people would chose the entity that leaves more money in their pocket.  So let's compare the…

Choosing between an S Corporation and an LLC

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Many small business owners end up deciding between a New York S corporation and a New York limited liability company (LLC) when choosing a formal legal structure for their New York business. Both entities offer limited liability and a startup…

LLC Operating Agreements

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Everything you need to know about the LLC Operating Agreement, explained by New York Small Business Lawyer, Imke Ratschko

Small Business Partnerships -Protecting your Minority Stake

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You do not have to rely on the goodness of human kind alone, when going into business with other people.  There are legal (agreements) and practical measures (business common sense)  that you can take to make sure that your business…

New York LLC Formation

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Let us help you with  your New York LLC Formation!  Call us to discuss your legal concerns and any other questions you may have about the process of forming a New York Limited Liability Company.  We are not a paralegal service where you don't…

All you Need to Know About: The LLC Operating Agreement

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The LLC Operating Agreement is a key document for a business organized as a New York Limited Liability Company, especially if that business has more than one owner (the owners are "Members" in LLC terminology). If an LLC business was like a…

Sole Proprietorship or Single Member LLC?

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When you are a one person business, i.e. you are to be the only owner of your business, the question invariably arises:  sole proprietorship or single member LLC? You are a sole proprietorship, as soon as you begin doing business.  There…

How much does it cost to register an LLC in NY?

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Excluding any service fees paid to an attorney (see here for my very reasonable package), the approximate* costs are as follows: New York County (aka Manhattan): $1560 Kings County: $960 Nassau County:  $960 Richmond County:  $1010 Westchester…

The Claim: Multi-Member LLC is better than Single Member LLC Because of Charging Order

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Some people seem to suggest that it is always better to form a multi member LLC (more than one owner), rather than a single member LLC.  These people base their opinion on the fact that the so called charging order protection may not be…

S Corporations and New York City

...do not make a match formed in heaven.  New York City does not recognize s-corporations and makes all s corporations liable for its General Corporation Tax to the tune of 8.85%.  Thus, in NYC, an LLC is often the better and more tax friendly…