Entity-choice-after-tax-reform. When you are ready to form your new small business, you probably have reviewed with your small business attorney various entity choices. The small business attorney likely discussed possible legal entities such as corporations, partnerships and limited liability companies (LLCs). Which entity is the best form for your business depends on many variables such as structure, liability, management as well as tax considerations. You have likely heard that there was a big change to the United States tax code starting in 2018 under the Tax Cuts and Jobs Act. Many of the tax reform provisions affect businesses. In this article, we will discuss how these changes may affect the calculus in deciding which legal form your want to choose for your startup business.

I recently came across a nonprofit in which the chairperson, who had recently died, bequeathed her interest in the nonprofit to a close relative. Little did she realize that a nonprofit is not property that you can transfer or otherwise give away. A nonprofit is fundamentally different from a for profit organization, such a corporation which issues stock. This article describes some corporate governance aspects of nonprofits.

Government Contracting: Teaming Agreements

Tuesday, 20 November 2018 by

If you are a small business and are interested in government contracting work, then the most likely entry point will be an arrangement with another company. How you structure this cooperation will be a critical and significant element of success. This article discusses teaming agreements and summarizes some structures that may appeal to small businesses.

If your small business is exporting weapons or arms, then you will fall within the ambit of the International Traffic in Arms Regulations (ITAR). You will probably find your export on that list if it has anything to do with arms or weapons. If you find your intended export on that list, then you are subject to the strict requirements of the ITAR. If your intended export is not on the list then you still have to comply with the export control laws, but the less strict export administration regulations. This article provides a brief summary of the applicability of the export administration regulations and why every business, even a small business, should be concerned about the applicability of the regulations to your business.

Even a small business may have to be concerned about export control rules and regulations. This article covers International Traffic in Arms Regulations (ITAR), which deals with arms export controls. Not many small business owners are exporting weapons as such, but as we discuss in this article, even components that may be used in weapons may fall under the ITAR. ITAR regulates the export, reexport, retransfer, and brokering of ITAR-controlled defense articles (hardware), technical data (technology including software), and defense services. If hardware or technology is subject to the ITAR, their reexport from, or retransfer within, a foreign company is also subject to the ITAR restrictions.

This articles provides an overview of export control laws for the small business. If your small business is selling weapons to foreign governments, you probably should have guessed by now that you need to be concerned about export control laws in the United States. We introduce some of the major export regulations that may affect your business. U.S. companies that export goods from the U.S. can be subject to several requirements under regulations that have been implemented to protect U.S. national security and foreign policy interests. Failing to comply with export laws and regulations can have significant consequences for the business and the owners of the business, including civil or criminal fines, imprisonment, loss of export privileges, and debarment from government contracting. In other words, even a small business owner needs to take these regulations very seriously.

Dissolving a Small Business

Wednesday, 03 October 2018 by

Some businesses simply don’t make it. We have discussed reasons why small business owners may decide to dissolve a business. The procedures that a small business must follow differ depending on where you may have organized your company. In this post, we will summarize the procedures for dissolving your limited liability company (LLC) in various popular states for small businesses. We focus on business dissolution of LLCs in DC, Virginia, Maryland, Delaware and California.

Calling it a Day: LLC Dissolution

Tuesday, 07 August 2018 by

The great thing about our country is that even the least experienced entrepreneur can form a new company in a matter of hours. And the second best thing is that if you are a small business owner, you have the right to go out of business. This blog post will discuss the dissolution of an existing company. Since the vast majority of new businesses are limited liability companies, we will discuss the dissolution of LLCs in particular. If you don’t have a lot of debt, and simply want to move on, then you can dissolve your company without any stigma of bankruptcy. This blog post summarizes the steps you take to dissolve a limited liability company.

Small Business Response to Lawsuits

Tuesday, 07 November 2017 by

Lawsuits for small business can consume enormous time and resources. The best way to protect your small business from lawsuits is preventative care. That means that if you are a small business owner, you should use written agreements with everyone: employees, independent contractors; vendors, business partners, investors, everyone. Nonetheless, even if you have an agreement, you may find yourself or your business named in a lawsuit. This article discusses some of the initial steps that a small business should do if it is named in a lawsuit.

Anatomy of a Business Dispute

Monday, 04 September 2017 by

Almost all small businesses frequently encounter disputes—some small, some not so small. In the vast majority of these business disputes, the small business owner can resolve the conflict without resort to a lawyer. In this blog, we describe what measures you can take as a small business owner to minimize the risk of business disputes, tactics to take to resolve disputes when they arise, and finally, when after a dispute arises is the best time to see your small business lawyer.

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