HOW DO THEY DIFFER: Co-ops, C-Corps, LLCs, Non-Profits, L3Cs, CMGs
|
|
- Constance Wilson
- 9 years ago
- Views:
Transcription
1 HOW DO THEY DIFFER: Co-ops, C-Corps, LLCs, Non-Profits, L3Cs, CMGs U.S. Department Of Agriculture (USDA) Stephanie M. Smith Senior Legal Adviser for Cooperative Programs USDA Rural Development Washington, DC
2 Business Organizations Most business organizations form legal business entities to validate their business activities with the federal, state and local governments; and the general public. The Internal Revenue Service (IRS) is able to tax these business activities of the particular business organization according to the very characteristics and purpose of the legal business entity created.
3 Various Types of Organizational Options Cooperatives (Co-ops) are organized by the people who use its services and whose benefits are derived and distributed equitably on the basis of use C-Corporations (C-Corps) are organized for-profit entities to distribute wealth to employees and shareholders Limited Liability Companies (LLCs) are organized for-profit entities for a single business purpose Non-Profit Organizations (Non-Profits) are organized solely to provide programs and services that are of self-benefit Low Profit Limited Companies (L3Cs) are organized to bridge the gap between non-profit and for-profit investing Collaborative Marketing Groups (CMGs) are organized to directly market and distribute products on behalf of farmers as either a co-op, corporation or LLC
4 WHAT DO THEY HAVE IN COMMON? Co-ops C-Corps LLCs Non-Profits L3Cs CMGs They all provide goods and services They all are recognized by the IRS for tax paying purposes, if applicable They all are organized via state statutory laws They all have an ownership or management structure They all operate under a particular goal, mission or purpose
5 HOW DO THEY DIFFER? Co-ops C-Corps LLCs Non-Profits L3Cs CMGs Each organization is taxed differently by the IRS based on the organization s unique characteristics The ownership or management structure is not equally structured Each business organization is structured with different goals or purposes in mind
6 How Do They Differ: Ownership Structure Co-ops - Member/Patrons C-Corps - Stockholders LLCs - Member/Shareholders Non-Profits - Nobody L3Cs - Member/Shareholders CMGs - Member/Patrons/Shareholders
7 How Do They Differ: Organizational Structure Co-ops - Board of Directors elected by patron members C-Corps - Board of Directors elected by shareholders LLCs - LLC Members Non-Profits - Board of Directors L3Cs - L3C Members CMGs - Board of Directors elected by patron members, shareholders or LLC members
8 How Do They Differ: Investment Costs Co-ops C-Corps LLCs Non-Profits L3Cs CMGs - One share/fee to establish membership - One share of stock - At discretion of LLC members - Membership fee - At discretion of LLC members - Based on their chosen business entity
9 How Do They Differ: Purpose Co-ops - To meet member needs for goods or services, market members products and earn a return on member investment C-Corps - To earn a return on owner investments LLCs - To earn a return on members investments; to provide employment for members Non-Profits - To provide services or information L3Cs - To provide a structure that facilitates investments in socially beneficial, for-profit ventures CMGs - To provide a structure for farmers to work together over an extended time period to market their agricultural products
10 How Do They Differ: Legal Liability for Individual Owner/Member Co-ops - Limited to members investment in the cooperative C-Corps - Limited to shareholder s investment in the corporation LLCs - Limited to LLC member(s) investment in the LLC Non-Profits - Limited to assets of the organization L3Cs - Limited to L3C member(s) investment in the L3C CMGs - Based on the chosen business entity s limitations as stated above
11 How Do They Differ: Financial Structure Co-ops - Retained profits; sale of shares to members and outside investors C-Corps - Retained profits and sale of shares to investors LLCs - LLC members investments and retained profits Non-Profits - Grants, individual contributions, fees for services L3Cs - L3C members investments and retained profits CMGs - Based on the chosen legal entity
12 How Do They Differ: Profits/Gains Structure Co-ops - Members in proportion to their use; preferred shareholders in proportion to investment, up to 8% C-Corps - Shareholders in proportion to investment LLCs - LLC members in proportion to investment or by agreement Non-Profits - Retained within the organization L3Cs - L3C members in proportion to investment or by agreement CMGs - Based on the chosen business entity
13 How Do They Differ: Individual/Entity Tax Structure Co-ops - Members pay on qualified allocated profit and cash received; Co-op pays on nonqualified and unallocated profits C-Corps - Shareholders pay individual capital gains rate on dividends; C-Corp pays corporate rate on profits LLCs - LLC members pay individual rate, or can elect to be taxed as a corporation Non-Profits - Not Applicable L3Cs - L3C members pay individual rate, or can elect to be taxed as a corporation CMGs - Based on the chosen business entity
14 A Note on L3Cs and CMGs L3Cs- L3Cs are considered hybrid for/non-profits, but are not tax exempt charities unless they meet the IRS s 501(c)(3) requirements. As late as August, 2009, there are currently 8 jurisdictions to recognize L3Cs to include, Vermont, Illinois, Michigan, Wyoming, Utah, Maine, the Crow Nation and the Oglala Sioux Tribe. CMGs- CMGs may be formally established business organizations or informal associations. Some CMGs are based on significant investments in processing and distribution facilities, while others rely on the human capital embodied in their members ideas and the social capital embodied in their collaborative spirit. See University of Minnesota Extension Services discussion on CMGs.
15 Conclusion You may contact Stephanie M. Smith at (202) or for more detailed information about this presentation. Thank you.
Options for Worker Co-op Legal Structure
Options for Worker Co-op Legal Structure California Co-op Conference Jenny Kassan, Katovich Law Group jenny@katovichlaw.com (510) 834-4530 August 16, 2009 Options for Worker Co-op Legal Structure Cooperative
More informationHome Other Resources About Us Contributing Lex Mundi Member Law Firms Other Contributors News & Events Disclaimer Contact
Home Other Resources About Us Contributing Lex Mundi Member Law Firms Other Contributors News & Events Disclaimer Contact An affiliate of Lex Mundi, the world's leading association of independent law firms.
More informationForming a Low-Profit Limited Liability Company (L3C): Incorporation Requirements Kevin Frisch, Student American University Washington College of Law
Last Updated: March 2013 Forming a Low-Profit Limited Liability Company (L3C): Incorporation Requirements Kevin Frisch, Student American University Washington College of Law The most common legal form
More informationSocial Enterprise Choice of Entity: Benefit Corporation, Flexible Purpose Corporation, and the L3C
Social Enterprise Choice of Entity: Benefit Corporation, Flexible Purpose Corporation, and the L3C By Mark E. Powell, Esq., 1 Cecily Jackson-Zapata, Esq., 2 and Becki Kammerling, Esq. 3 It may be rare,
More informationTechnology Companies Practice Tax Practice Goodwin Procter LLP. 2010. Goodwin Procter LLP
Technology Companies Practice Tax Practice 2010. Entity Type Number of People Separate Entity? Limited Liability Formation/ Existence Formalities C-Corporation 1+ Yes Yes Filings/Fees On-going S-Corporation
More informationBUSINESS ENTITY BASICS
LEGAL SERVICES FOR ENTREPRENEURS 415-543-9444, Ext. 217 lse@lccr.com BUSINESS ENTITY BASICS Presented By Lisa Li, Wilmer Hale LLP DISCLAIMER The information contained in this presentation has been prepared
More informationTYPES OF LLCs. Jim Francis Fowler Bell PLLC 300 W Vine St, Ste 600 Lexington, KY 40507 859-252-6700 859-255-3735 jfrancis@fowlerlaw.
TYPES OF LLCs Jim Francis Fowler Bell PLLC 300 W Vine St, Ste 600 Lexington, KY 40507 859-252-6700 859-255-3735 jfrancis@fowlerlaw.com I. HISTORY AND TYPES OF LIMITED LIABILITY COMPANIES A. History The
More informationLow-Profit Limited Liability Company (L3C) Date: July 29, 2013. [Low-Profit Limited Liability Company (L3C)] [July 29, 2013]
Topic: Question by: : Low-Profit Limited Liability Company (L3C) Kevin Rayburn, Esq., MBA Tennessee Date: July 29, 2013 Manitoba Corporations Canada Alabama Alaska Arizona Arkansas California Colorado
More informationBULLETIN. In Maryland, 82.7 percent of. Using a Business Organization Structure to Limit Your Farm s Liability EB-422
EXTENSION BULLETIN EB-422 Using a Business Organization Structure to Limit Your Farm s Liability Business structures can help limit your liability and set your farming operation up to continue through
More informationERSOP Entrepreneur Rollover Stock Ownership Plan. Real Estate Management Company
Entrepreneur Rollover Stock Ownership Plan Real Estate Management Company First: Are you going to be Active or Passive? All of our clients have that entrepreneurial spirit, they choose ACTIVE. They are
More informationEntity Selection: Tax Advantages and Traps for Farmers & Ranchers
Entity Selection: Tax Advantages and Traps for Farmers & Ranchers Andrea J. Rosholt February 19, 2014 Your Questions 1. How does a Family Estate LLC work in transferring of real estate and avoiding probate?
More informationOrganizational Types and Considerations FOR A SMALL BUSINESS
Organizational Types and Considerations FOR A SMALL BUSINESS Welcome 1. Agenda 2. Ground Rules 3. Introductions ORGANIZATIONAL TYPES and CONSIDERATIONS 2 Objectives Identify general characteristics, advantages,
More informationPrepared by. Chris Cook James Matson. Virginia Foundation for Agriculture, Innovation & Rural Sustainability. Lynn K. Suter, Esq.
Chris Cook James Matson Prepared by & Lynn K. Suter, Esq. P.O. Box 27552 Richmond, VA 23261 (804) 290-1160 www.vafairs.org P.O. Box 1287 Harrisonburg, VA 22803 (540) 437-3131 www.lolawfirm.com lks@lolawfirm.com
More informationChoosing the Right Entity for Maximum Tax Benefits for Your Construction Company
Choosing the Right Entity for Maximum Tax Benefits for Your Construction Company Timely re-evaluation of choice of entity will enhance the shareholder value of your contractor client By Theran J. Welsh
More informationDiscussion Concepts for Renewable Energy L 3 Cs with Foundation and Non-Profit Funding
The L 3 C and Alternative Energy Funding Discussion Concepts for Renewable Energy L 3 Cs with Foundation and Non-Profit Funding By: Robert Lang Americans for Community Development Michael Zimmer Thompson
More informationCorporation or LLC? Ten Differences to Consider (Other Than Taxation) WH ITE PAPER
Corporation or LLC? Ten Differences to Consider (Other Than Taxation) WH ITE PAPER CT Representation Services CORPORATION OR LLC? TEN DIFFERENCES TO CONSIDER (OTHER THAN TAXATION) One of the first and
More informationDelaware. Business Entities under the General Corporation Law of. www.csb.gov.ge www.declaration.ge www.hr.gov.ge
Business Entities under the General Corporation Law of Delaware www.csb.gov.ge www.declaration.ge www.hr.gov.ge Civil Service Bureau Reform & Development Department 1 The underlying, guiding principle
More informationThe Process of Incorporation vs. LLC Formation By: Brandon M. Schwartz
The Process of Incorporation vs. LLC Formation By: Brandon M. Schwartz INTRODUCTION One of the first legal issues entrepreneurs face is what type of entity they should form. This article focuses on and
More informationHow to Choose a Legal Entity
Boston Executive Briefing Series Company: Solving the Puzzle of C Corp, Presented by: Kenneth R. Appleby and Thomas A. Rosenbloom INTRODUCTION Selection of the form of legal entity is one of the most important
More informationArizona Limited Liability Company Discussion
Arizona Limited Liability Company Discussion If you will be setting up a limited liability company in Arizona, the best time for discussion of questions is before preparing the operating agreement and
More informationForms of Ownership. Entrepreneurship. Mr. Rodrigues
Forms of Ownership Entrepreneurship Mr. Rodrigues Objectives Identify the significance of business ownership to the entrepreneurial process. Identify and discuss forms of business ownership Identify and
More informationDifferent Types of Corporations: Advantages/ Disadvantages of Corporations
Different Types of Corporations: Advantages/ Disadvantages of Corporations Article published at: http://www.morebusiness.com/getting_started/incorporating/d934832501.brc Anyone who operates a business,
More informationLAW OF COOPERATIVES Conversions and Restructurings of Cooperatives
LAW OF COOPERATIVES Conversions and Restructurings of Cooperatives Joel J. Dahlgren Stoel Rives LLP 33 South Sixth Street, Suite 4200 Minneapolis, MN 55402 612-373-8806 jjdahlgren@stoel.com Ronald D. McFall
More informationTypes of Business Ownership
Types of Business Ownership Sole Proprietorship A sole proprietorship is the easiest and simplest form of business ownership. It is owned by one person. There is no distinction between the person and the
More informationFIN 3000. Chapter 1: Principles of finance. Liuren Wu
FIN 3000 Chapter 1: Principles of finance Liuren Wu Overview 1. What is finance? 2. Three types of business organizations 3. The goal of the financial manager 4. The four basic principles of finance Learning
More informationS CORP vs. C CORP vs. LLC: WHICH IS RIGHT FOR YOUR BUSINESS?
S CORP vs. C CORP vs. LLC: WHICH IS RIGHT FOR YOUR BUSINESS? One of the significant decisions you face when starting a company is deciding through which type of legal entity you will operate the business.
More informationBusiness Structures. College of Menominee Nation 1. Presented by: Mwata Chisha Business and Public Administration
Business Structures Presented by: Mwata Chisha Business and Public Administration College of Menominee Nation 1 MEET MWATA CHISHA 2 OBJECTIVES Discuss the various types of business entities and their general
More informationBUSINESS ENTITIES IN COLORADO
BUSINESS ENTITIES IN COLORADO Types of Colorado Business Entities When starting a business there are many different formats available. In fact, there are so many choices it can be quite dizzying. In general
More informationBusiness Organization\Tax Structure
Business Organization\Tax Structure One of the first decisions a new business owner faces is choosing a structure for the business. Businesses range in size and complexity, from someone who is self-employed
More informationNon-Profit Entity Conversion. Question by: Julia Dale. Date: February 6, 2012. [Non-Profit Entity Conversion] [2012 February 07]
Topic: n-profit Entity Conversion Question by: Julia Dale : Michigan Date: February 6, 2012 Manitoba Corporations Canada Alabama Alaska Arizona Arkansas California See below under additional comments Colorado
More informationIssues Relating To Organizational Forms And Taxation. U.S.A. NEW YORK Alston & Bird LLP
Issues Relating To Organizational Forms And Taxation U.S.A. NEW YORK Alston & Bird LLP CONTACT INFORMATION Stephanie Denkowicz/ William Ruehl/ Edward Tanenbaum Alston & Bird LLP 90 Park Avenue New York,
More informationOUT IN FRONT LLC OR INC.? ENTITY SELECTION FOR A SMALL TO MEDIUM SIZED BUSINESS S CORPORATIONS IN DETAIL
OUT IN FRONT LLC OR INC.? ENTITY SELECTION FOR A SMALL TO MEDIUM SIZED BUSINESS S CORPORATIONS IN DETAIL Presented by: William C. Perez Adams and Reese LLP December 17, 2013 Topics to be Discussed: Why
More informationFORMALIZING YOUR FIRM: LLC VERSUS S CORPORATION VERSUS C CORPORATION
FORMALIZING YOUR FIRM: LLC VERSUS S CORPORATION VERSUS C CORPORATION by Stephanie L. Chandler 1 and Lisa S. Miller 2, Jackson Walker L.L.P. As we work with entrepreneurs in setting up the structures for
More informationLegal Primer For Formation of Consumer-Owned Food Cooperatives
Legal Primer For Formation of Consumer-Owned Food Cooperatives By Joel Dahlgren, Black Dog Co-op Law With contributions from Thane Joyal, Bill Gessner, Marilyn Scholl and Stuart Reid 2 nd Edition, Released
More informationNonprofit Mergers. Question by: Deb Ulmanis. Date: 6 August 2010. Does your state statutes permit nonprofits to merge?
Topic: Nonprofit Mergers Question by: Deb Ulmanis Jurisdiction: New Hampshire Date: 6 August 2010 Jurisdiction Question(s) Does your state statutes permit nonprofits to merge? Can nonprofits only merge
More informationCorporation, Limited Liability Company, or Partnership: What Type of Business Entity Should I Form?
Corporation, Limited Liability Company, or Partnership: What Type of Business Entity Should I Form? Kandace P. Watson, Partner Kilpatrick Townsend & Stockton LLP kwatson@ktslaw.com February 27, 2013 2012
More informationINCORPORATING YOUR BUSINESS IS POTENTIALLY THE SINGLE MOST IMPORTANT THING A BUSINESS OWNER CAN DO
INCORPORATING YOUR BUSINESS IS POTENTIALLY THE SINGLE MOST IMPORTANT THING A BUSINESS OWNER CAN DO Mark D. Klein, Esq. KLEIN LAW CORPORATION 15615 Alton Parkway, Suite 175 Irvine, CA 92618 (949) 453-7979
More informationA partnership having one or more general partners and one or more limited partners.
1. Definition A business association of two or more persons to conduct a business unless formed under any other statute. A partnership having one or more general partners and one or more limited partners.
More informationOnce the committees have completed their analyses and established the feasibility
9 Establishing the Market as an Organization Once the committees have completed their analyses and established the feasibility of a new farmers market in the community, it is time for the organizing committee
More informationA person. who wants BACKGROUND. corporation. corporation. action, the. The C corporation. subject to. qualify to make. or certain
CHOOSING THE FORM OF BUSINESS ORGANIZATION A person who wants to start a business can choose from a variety of different types of business entity formations. For instance, a person can form a business
More informationCOMPREHENSIVE GUIDE TO CHOOSING A NEW BUSINESS STRUCTURE
COMPREHENSIVE GUIDE TO CHOOSING A NEW BUSINESS STRUCTURE 1. Corporations and LLCs: The most common entities 2. Comparing corporations and LLCs 3. Things to consider when forming a business entity 4. Which
More informationTypes of Business. Part II S Corporations and LLCs
Types of Business Part II S Corporations and LLCs Student Learning Objectives Describe features of the alternative forms of ownership such as S corporations and limited liability company. Alternative Forms
More informationTo LLC or Not to LLC: That is the Question!
To LLC or Not to LLC: That is the Question! by Jordan N. Uditsky Limited Liability Companies, or LLC as they are more commonly known, have been the entity du jour over the past decade, and I ve been asked
More informationCooperatives in Wisconsin. The Power of Cooperative Action
Cooperatives in Wisconsin The Power of Cooperative Action 2 The twin pines symbol for cooperatives originated with The Cooperative League of the USA, which adopted it as its logo in 1922. The pine tree
More informationWHAT FACTORS SHOULD BE CONSIDERED IN CHOOSING THE TYPE OF BUSINESS ENTITY FOR MY BUSINESS?
WHAT FACTORS SHOULD BE CONSIDERED IN CHOOSING THE TYPE OF BUSINESS ENTITY FOR MY BUSINESS? There Are Myriad Organizational Structures and Choosing the Correct One for Your Company Is Essential to Achieve
More informationWomen s Small Business 2015 Outlook
Women s Small Business 2015 Outlook Powered by 1 Table of Contents Women-Owned Businesses: An Assessment 1 Growth of Women-Owned Businesses in 2014 Future of Women-Owned Businesses in FY-2015 What Should
More informationWe do require the name and mailing address of each person forming the LLC.
Topic: LLC Managers/Members Question by: Jeff Harvey : Idaho Date: March 7, 2012 Manitoba Corporations Canada Alabama Alaska Arizona Arkansas California Colorado Arizona requires that member-managed LLCs
More informationMORE THAN FIVE MILLION corporations
Corporations MORE THAN FIVE MILLION corporations exist in the United States with revenues totaling more than 17 billion dollars annually. In 2008, Walmart topped the list with Kroger, ADM, Tyson, Dow,
More informationChristopher Davis Maryland Institute College of Art January 17, 2014
Mind Your Business Miles & Stockbridge P.C. Christopher Davis Maryland Institute College of Art January 17, 2014 Firm Overview Miles & Stockbridge P.C. is a full-service law firm that represents businesses
More informationSecretary of State: Connie Lawson
Page 1 of 8 Secretary of State: Connie Lawson Business Services Division An Entrepreneur's Guide to Starting A Business in Indiana Dear Future Indiana Entrepreneur: Thank you for your interest in operating
More informationCHOOSING THE RIGHT BUSINESS STRUCTURE
CHOOSING THE RIGHT BUSINESS STRUCTURE One type of business structure is not necessarily better than another, therefore, it is important to evaluate your needs now and into the future, and consider the
More informationApplication for 8(a) Business Development (8(a) BD) and Small Disadvantaged Business (SDB) Certification
Application for 8(a) Business Development (8(a) BD) and Small Disadvantaged Business (SDB) Certification OMB Approval:3245-0331 Expiration : 8/31/2007 To be completed by SBA Received To be completed by
More informationEffects of Pass-through Entities on Tax Collections
Effects of Pass-through Entities on Tax Collections New Entities, New Challenges Benjamin Uy FTA Research Conference 2003 Legal Disclaimer The views expressed in this presentation are solely those of the
More informationSection 2.4 Business Organization: Structure And Issues
Section 2.4 Business Organization: Structure And Issues Dawn Thilmany, Sue Hine, Wendy Umberger and Amanda Ziehl Department of Agricultural & Resource Economics Colorado State University Section Summary
More informationBusiness Organization\Tax Structure
Business Organization\Tax Structure Kansas Secretary of State s Office Business Services Division First Floor, Memorial Hall 120 S.W. 10th Avenue Topeka, KS 66612-1594 Phone: (785) 296-4564 Fax: (785)
More informationLAW OF COOPERATIVES Legal Framework of Cooperative Development
LAW OF COOPERATIVES Legal Framework of Cooperative Development Mark J. Hanson Stoel Rives LLP 33 South Sixth Street, Suite 4200 Minneapolis, MN 55402 612-373-8823 mjhanson@stoel.com Cooperatives Legal
More informationStarting an Agricultural or Food based Business
Starting an Agricultural or Food based Business Kent Jorgensen Spring 2012 If you have decided to start an agricultural or food based business, you may have felt overwhelmed by trying to decide what is
More informationGUIDE TO SELECTING YOUR SMALL BUSINESS LEGAL STRUCTURE
GUIDE TO SELECTING YOUR SMALL BUSINESS LEGAL STRUCTURE To make your business #CPAPOWERED, call today and let s get started. 2015 American Institute of CPAs. All rights reserved. 15607-312 One important
More informationGUIDE TO SELECTING YOUR SMALL BUSINESS LEGAL STRUCTURE. To make your business #CPAPOWERED, call today and let s get started.
GUIDE TO SELECTING YOUR SMALL BUSINESS LEGAL STRUCTURE To make your business #CPAPOWERED, call today and let s get started. One important consideration when starting your business is determining the best
More informationStructuring Your New Business By Business Filings Incorporated
Structuring Your New Business By Business Filings Incorporated There are five common business structures entrepreneurs often consider as they start their businesses: sole proprietorship, general partnership,
More informationIncorporating Your Business
CorpNet s Guide to: Incorporating Your Business TM www.corpnet.com Congratulations! You have decided to start your own business. That is a courageous step and one that can lead to rewards that no job can
More informationHIGHLIGHTS OF THE NORTH DAKOTA LIMITED LIABILITY COMPANY ACT. N.D.C.C. Ch. 10-32.1. 2015 Real Property, Probate & Trust Section Seminar
HIGHLIGHTS OF THE NORTH DAKOTA LIMITED LIABILITY COMPANY ACT N.D.C.C. Ch. 10-32.1 2015 Real Property, Probate & Trust Section Seminar State Bar Association of North Dakota William L. Guy III Fredrikson
More informationActivity Sheet 1: What is a Stock?
Activity Sheet 1: What is a Stock? Stocks represent a share of ownership in a publicly held company. Private companies do not issue stock. As a stockholder, the investor has a claim on the assets of the
More informationWHAT IS THE DIFFERENCE BETWEEN A SUBCHAPTER C AND S CORPORATION IN ARIZONA?
WHAT IS THE DIFFERENCE f BETWEEN A SUBCHAPTER C AND S CORPORATION IN ARIZONA? While C and S-Corporations Share Common Traits, There are Important Differences Between the Two Different Corporate Forms Lotzar
More informationJAMISON MANAGEMENT AND DEVELOPMENT HC 68, Box 79-S, Gila Hot Springs, Silver City, New Mexico 575-536-9339 sznjmsn@gilanet.com
JAMISON MANAGEMENT AND DEVELOPMENT HC 68, Box 79-S, Gila Hot Springs, Silver City, New Mexico 575-536-9339 sznjmsn@gilanet.com Compiled by Suzanne Jamison for informational purposes only. This does not
More informationPart I. GETTING STARTED
7 Part I. GETTING STARTED Chapters 1 through 3 9 Chapter 1. CHOICE OF ENTITY FOR DOING BUSINESS A. INTRODUCTION Forming an appropriate legal entity to carry out the anticipated activities is one of the
More informationSHOULD MY BUSINESS BE AN S CORPORATION OR A LIMITED LIABILITY COMPANY?
SHOULD MY BUSINESS BE AN S CORPORATION OR A LIMITED LIABILITY COMPANY? 2015 Keith J. Kanouse One Boca Place, Suite 324 Atrium 2255 Glades Road Boca Raton, Florida 33431 Telephone: (561) 451-8090 Fax: (561)
More informationCOLORADO FORMS OF ORGANIZATION Davis Graham & Stubbs LLP Peter H. Schwartz and Nathan J. Goergen 1
COLORADO FORMS OF ORGANIZATION Davis Graham & Stubbs LLP Peter H. Schwartz and Nathan J. Goergen 1 Table of Contents 1. Nonprofit Corporations...4 2. For-profit Corporations...10 3. Limited Liability Companies
More informationCorpNet s Guide to: Forming An LLC. www.corpnet.com
CorpNet s Guide to: Forming An LLC TM www.corpnet.com Congratulations! You have decided to start your own business. That is a courageous step and one that can lead to rewards that no job can offer. When
More informationBUSINESS ORGANIZATIONS IN THE 21 ST CENTURY: A LOOK AT NEW LEGAL FORMS FOR BUSINESS THAT ENHANCE SOCIAL ENTERPRISE I. INTRODUCTION
BUSINESS ORGANIZATIONS IN THE 21 ST CENTURY: A LOOK AT NEW LEGAL FORMS FOR BUSINESS THAT ENHANCE SOCIAL ENTERPRISE TARA FITZGERALD URICH* It is not the strongest of the species that survive, nor the most
More informationCHOOSING A BUSINESS ENTITY IN TODAY S BUSINESS WORLD
CHOOSING A BUSINESS ENTITY IN TODAY S BUSINESS WORLD Kenneth L. Wenzel Bourland, Wall & Wenzel, P.C. City Center Tower II 301 Commerce Street, Suite 1500 Fort Worth, Texas 76102-4115 The information set
More informationLegal Responsibilities of Cooperative Boards of Directors
Legal Responsibilities of Cooperative Boards of Directors Small and Emerging Cooperatives Conference: Todd W. Hoppe Foster, Swift, Collins & Smith, P.C. 1700 E. Beltline Ave. NE Grand Rapids, Michigan
More informationLLC OR CORPORATION: WHICH FORM WILL PROVIDE THE MOST VALUE FOR MY COMPANY?
LLC OR CORPORATION: WHICH FORM WILL PROVIDE THE MOST VALUE FOR MY COMPANY? Prepared for the Virginia Ship Repair Association Contracts Committee Presented By: Stephen W. Burke Robert E. Korroch February
More informationLimited Liability Companies and Corporate Business Structures
Limited Liability Companies and Corporate Business Structures Objectives of a Multiple Entities Strategy Retirement planning/providing for a surviving spouse. Tax management income, self-employment, and
More informationHow to Switch to Being a Benefit Corporation
November 2012 How to Switch to Being a Benefit Corporation By William H. Clark, Jr. Note: This outline describes the major issues that should be considered by an existing business evaluating becoming a
More informationNew Business Owner. Roadmap to Register and License your Business in Washington
New Business Owner Roadmap to Register and License your Business in Washington Have you written a business plan? For help, go to the Plan chapter of Washington s Small Business Guide: www.bizguide.wa.gov
More informationRevenue Ruling 2002-89 states that a Captive that receives 50% of its premiums from unrelated entities will achieve adequate risk distribution.
Captive Insurance: Frequently Asked Questions 1. Q: How is the Captive formed to ensure it is a true insurance arrangement? A: In order to have legitimate Insurance, there must be adequate risk transfer
More informationY o u C h o o se? Table of Contents
F o r m of Business Organization: Whi c h Should Y o u C h o o se? Your choice of the type of business organization to use when starting a business is a major decision. And it's a decision to be revisited
More informationUnderstanding Co-operative and Non-Profit Law. By Robert Dobrohoczki
Understanding Co-operative and Non-Profit Law By Robert Dobrohoczki The following is a commissioned work by Saskatchewan Co-operative Association and Le Conseil de la coopération de la Saskatchewan to
More informationOrganizational Types and Considerations for a Small Business
Table of Contents Welcome... 3 What Do You Know? Organizational Types and Considerations for a Small Business... 4 Pre-Test... 5 Factors for Choosing an Organizational Type... 7 Discussion Point #1: Organizational
More informationStructuring Your Business
Structuring Your Business Overview of Guide This guide is designed to provide basic information on some of the legal and practical issues to consider when setting up a business and applies only to New
More informationH. LIMITED LIABILITY COMPANIES AS EXEMPT ORGANIZATIONS by Richard A. McCray and Ward L. Thomas
H. LIMITED LIABILITY COMPANIES AS EXEMPT ORGANIZATIONS by Richard A. McCray and Ward L. Thomas 1. Introduction Although similar forms of business organization have existed in Europe and South America since
More informationCorps, Fed IDs, Why Me?
Corps, Fed IDs, Why Me? THE BUSINESS OF INNOVATION F R E E F O O D a n d F R E E F I N A N C I A L A D V I C E Choice of Entity Understanding the Pros and Cons of Entity Types Available Entity Types 4
More informationA worker cooperative may find the LLC model to offer many advantages.
Limited Liability Companies as Worker Cooperatives By Sarah Sexton, Law Clerk What is a Worker Cooperative? A worker cooperative is a business comprised of members that are both workers and owners of the
More informationThe S-Corporation Election; Advantages & Disadvantages
The S-Corporation Election; Advantages & Disadvantages Presented by: National Society of Accountants 1010 N. Fairfax Street Alexandria, VA 22314 800-966-6679 www.nsacct.org 1 Learning Objectives At the
More informationFLORIDA FORMS OF ORGANIZATION Alan H. Aronson, Esq. Akerman Senterfitt
Last Updated: January 2010 FLORIDA FORMS OF ORGANIZATION Alan H. Aronson, Esq. Akerman Senterfitt Table of Contents 1. Nonprofit Corporations 2. For-Profit Corporations 3. Limited Liability Companies 4.
More information2. Corporations Fully Exempt These corporations qualify for the full income tax exemption:
T. Exempt Corporations (G.S. 105-125, G.S. 105-130.11, G.S. 105-130.12) 1. Preliminary Statement Some types of corporations are fully exempt from income and franchise taxes, whereas others are conditionally
More informationThe ABCs of Entity Choice By Thomas A. Brumgardt
Legal Basics Part 4 in a series The ABCs of Entity Choice By Thomas A. Brumgardt Every lawyer needs to know the basics of advising clients on choice of entity. Even if you do not regularly practice in
More informationCOMPLEXITY IN BUSINESS FORMATION
COMPLEXITY IN BUSINESS FORMATION Craig H. Wendland May 24, 2013 Often, individuals hoping to begin business in California reach the conclusion that they should form a separate business entity. This decision
More informationCorporations: FAQ's. Is my Corporate Name Available?
Is my Corporate Name Available? Corporations: FAQ's Money Matters Tax Service will perform a non-binding name check for name availability within the state of incorporation. We perform the name check at
More informationThe Advantages and Disadvantages of Forming a Florida Limited Liability Company (LLC) Versus a Florida Corporation. by Karen J.
The Advantages and Disadvantages of Forming a Florida Limited Liability Company (LLC) Versus a Florida Corporation by Karen J. Orlin This Note outlines advantages and disadvantages of forming a new business
More informationVenture Capital Tax Credits By State
Venture Capital Tax Credits By State Alabama States Credit Amount Eligibility Notes Alaska Arizona Angel Investment Bill (Direct Tax Credit available for investments made after June 30, 2006, for tax years
More informationNEVADA FORMS OF ORGANIZATION Lionel Sawyer & Collins
Last Updated: January 2013 NEVADA FORMS OF ORGANIZATION Lionel Sawyer & Collins Table of Contents 1. Nonprofit Corporations 2. For-Profit Corporations 3. Limited Liability Companies 4. Low Profit Limited
More informationCHAPTER 1 ESTABLISHING A NEW BUSINESS IN THE UNITED STATES
CHAPTER 1 ESTABLISHING A NEW BUSINESS IN THE UNITED STATES 1. CHOICE OF ENTITY A foreign investor may choose from a variety of forms of entities to do business in the United States. Such forms of entities
More informationHow To Start A Business Or Non Profit
www.iamdellgines.com Your Personal Entrepreneurship Professor How to REALLY start your business or non-profit: Introduction to going from zero to startup Introductions What Qualifies Me to Teach You Business
More informationJER INVESTORS TRUST INC (JERT) 8-K. Current report filing Filed on 01/29/2009 Filed Period 01/28/2009
JER INVESTORS TRUST INC (JERT) 8-K Current report filing Filed on 01/29/2009 Filed Period 01/28/2009 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant
More informationFinance 331 Corporate Financial Management Week 1 Week 3 Note: For formulas, a Texas Instruments BAII Plus calculator was used.
Chapter 1 Finance 331 What is finance? - Finance has to do with decisions about money and/or cash flows. These decisions have to do with money being raised or used. General parts of finance include: -
More informationChoice of Entity: Corporation or Limited Liability Company?
September 2012 Choice of Entity: Corporation or Limited Liability Company? By Gianfranco A. Pietrafesa* Attorney at Law There are many different types of business entities, including corporations, general
More informationKnowledge One of the Keys to Tax Planning Opportunities
Accounting, Tax & Financial Services 3599 W. Lake Mary Blvd Suite 1A Lake Mary, Florida 32746 Tel: 407.936.2500 Fax: 407.936.2501 USATaxHelp.com LLC Limited Liability Company The GOOD, the BAD & the UGLY!
More informationMICHIGAN FORMS OF ORGANIZATION Butzel Long, a professional corporation Robert A. Hudson
Last Updated: January 2013 MICHIGAN FORMS OF ORGANIZATION Butzel Long, a professional corporation Robert A. Hudson Table of Contents 1. Nonprofit Corporations 2. For-Profit Corporations 3. Limited Liability
More information