If you are conducting or starting up a business as a sole proprietor or a partnership, there are significant advantages to operating as a Corporation or LLC. One key advantage is that personal liability for the losses, debts or court judgments can be avoided, provided you respect the formalities required by the laws of the state in which the Corporation or LLC is formed. Continue reading “Corporation or LLC?”
A single person or an entity with only one person, engaged as an independent contractor by companies in New York City for work worth more than $800 (including multiple small projects within a 120 day period), is entitled to a written Freelance Contract that provides timely and full wage payment rights, prohibits retaliation if they exercise their rights, and provides penalties against companies for non-compliance. Continue reading “NYC Enacts Protection for Freelance Workers, Effective 5/15/17”
Conventional wisdom has it that filing LLCs and corporations in certain foreign states is preferred because the laws are more friendly or annual franchise taxes are lower.
This is a trap for the unwary. If you are going to actively engage in business in the state where the business resides seek professional advice about what jurisdiction is best for your purposes. Otherwise, it could be very expensive in the long run and even dangerous. Continue reading “Where should I file my LLC or corporation?”
The revision reflects the increase on December 31, 2016 of the current dollar amount of the exemption from enforcement of judgments based upon the revised NY State minimum wage. NYS has enacted various wage amounts so please check the accompanying wage chart on page 3 of the form and use the applicable amount to calculate in the appropriate field.