Almost every state (and some municipalities) imposes some type of tax on corporation and LLC income generated in that state. States imposing an income tax generally tax all income of all businesses which have organized in that state. Businesses organized in other states are subject to tax only on income earned in the state or Read More…
Business Organization
What Is The Best Type Of Business Entity For E-Commerce?
Internet Business Entity Choice In terms of the typical e-commerce startup, new entrepreneurs usually want to know whether they should form a corporation or an LLC. Any other business structure, such as a limited partnership or limited liability partnership is not suitable for sole operators and not very practical for partners selling goods online. The Read More…
Why Use A Series LLC?
In order to diversify risk, someone with multiple rental or other investment properties would likely be advised to place each property into a separate entity. This was traditionally achieved with the use of a corporation or limited partnership in years past. Recently, however, the limited liability company has quickly become the entity of choice for Read More…
Illinois Employee Classification Act-What You Should Know!
In January of 2008, Illinois passed the Illinois Employee Classification Act (820 ILCS 185/1-999). In essence, the Act purports to prevent the misclassification of an employee as an independent contractor while conducting construction related activities. The law is basically an effort to prevent contractors from avoiding the payment of overtime benefits, payroll taxes, Workman’s compensation, etc. However, many Read More…