PokerStars, Full Tilt Poker and Absolute Poker Seized by the FBI Pursuant to an Arrest Warrant

(September 20, 2011) UPDATE: Today, Manhattan U.S. Attorney Preet Bharara’s office asked U.S. District Judge Leonard Sand for permission to add the new allegations to a civil forfeiture case filed against Full Tilt, PokerStars, Absolute Poker and other businesses back in April. Prosecutors contend that Full Tilt Poker paid board members more than $440 million… [Read More]

Tags: games of chance, games of skill, linkedin, lottery, online gambling, online poker

What are my Employer Obligations for Employees in New York?

First you should “Determine Whether Your New York Business has Employees or Independent Contractors” by reading that post or consulting with a corporate attorney. If your New York business hires employees, then the following would apply. Workers’ Compensation.  The New York State Workers’ Compensation Law (“NYWCL”) requires qualifying businesses must obtain workers’ compensation insurance before… [Read More]

Tags: Business Checklist, Business Links, Business Tax, Employee, New York business attorney, NY business lawyer

Does a New York LLC Need any Licenses and/or Permits?

Some business activities require licenses or permits from New York state and/or local governments. To find out what licenses and permits may be required in New York, you can visit… [Read more]

Tags: business lawyer, Licenses, New York business attorney, NY business lawyer

How Do I Form a Limited Liability Company in New York?

Organizers form an LLC in New York by filing the Articles of Organization, pursuant to Section 203 of the New York Limited Liability Company Law, with the Department of State. Organizers prepare, sign and file the Articles of Organization that creates the LLC. Any person or business entity may be an organizer (it does not… [Read More]

Tags: Business Links, Business LLC, New York business attorney, NY business lawyer, NY State

Are There Any Special Responsibilities or Formalities Associated With Forming a New York Limited Liability Company?

According to Section 417 of the New York Limited Liability Company Law, the members of a New York LLC are required to adopt a written operating agreement.  The operating agreement may be entered into before, at the time of, or within 90 days after the filing of the Articles of Organization.   The operating agreement is… [Read More]

Tags: Business Links, Business LLC, Contracts, Members, Operating Agreement

How is a New York Limited Liability Company (LLC) Taxed?

The Internal Revenue Code (IRC) allows an LLC to elect its tax status for income tax purposes. You should consult your financial or tax adviser about these “check-the-box” regulations and any changes. For income tax purposes, New York State law follows federal law.  Additionally, New York state law (and certain other states’ laws) imposes a… [Read More]

Tags: Business Links, Business LLC, Business Tax

Negotiating the Terms of the Deal — Buying or Selling an LLC or Small Business In New York

After you have found your target New York business to acquire, you (and/or your corporate attorney) have to negotiate the terms of the business purchase transaction.  In this article I will outline some of the typical terms of a term sheet for the purchase of a small business and some of the things you need… [Read More]

Tags: Business Checklist, Business Merger, New York business attorney, NY business lawyer

How Do I Determine Whether my New York Business has Employees or Independent Contractors?

It is critical that you, the business owner, perhaps with the help of your corporate attorney, correctly determine whether the individuals providing services are employees or independent contractors.  For the most part, the employer must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an… [Read More]

Tags: Business Checklist, Employee

How Do I Convert a Partnership, LLC or Other Business Entity into a Corporation?

(You may also want to read our related post, “How Do I Convert a Partnership, Corporation or Other Entity into an LLC?“) The New York Limited Liability Company Laws and the Delaware General Corporation Laws have provisions to easily convert an existing limited liability company, and with respect to Delaware, general partnership, limited partnership, other… [Read More]

Tags: Business Links, Business LLC, Business Merger, Conversion, Convert, Partnership

Where can I Find Links to New York Business Laws?

Look here to find links to the New York Limited Liability Company Law, the New York Business Corporation Law, the New York Partnership Act, and the New York General Obligations Law. [...] [Read more]

Tags: Business Links, Business LLC, New York business attorney, NY business lawyer, Partnership