How do I Remove Rogue Member or Manager from My LLC? [video]

Has your business partner, LLC member or LLC manager harmed your business? You are not stuck! There are ways to remove a rogue member or manager from your business, LLC, or partnership (similar to removing a rogue officer or shareholder from a company). Find out more about how we can help you here.    Other… [Read More]

Tags: Business LLC, linkedin, Members, Operating Agreement, Partnership

Should I Buy or Hold My Investment Property in an LLC?

Deciding what legal entity in which you buy and hold your real estate is important.  You should to consult with your financial and tax advisors along with your New York real estate attorney to figure out the right legal entity.  You should consider, among other things, the type investment property, the amount of equity and… [Read More]

Tags: Business LLC, buying condo, buying real estate, linkedin

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

What is a New York Professional Service Limited Liability Company (PLLC)?

What is the difference between a NY PLLC vs. an LLC? One or more professionals may form, or cause to be formed, a professional service limited liability company (PLLC) in New York for profit for the purpose of rendering the professional service or services that the professionals are authorized to practice. A PLLC is formed… [Read More]

Tags: Business Links, Business LLC

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

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

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

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

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

How Do You Remove an LLC Member or Manager From Your Small Business?

If a manager or a member of the LLC engages in conduct that harms the LLC, the other members do have standing to bring what is known as a “derivative action” to remove the member or manager from the LLC. Generally, derivative actions are typically brought by a corporate attorney on behalf of the shareholders… [Read More]

Tags: Business LLC, Members, Operating Agreement