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

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

Forming or Buying a Small Business in New York? Links To Start and Grow Your Small Business.

Is the name that you have in mind for your startup company available to use? Need to find out whether shares of stock or personal assets of a person or company have liens filed against it? Need to find out if tax warrants have been filed in New York? Need to know about the various taxes applicable to New York businesses and [...] [Read more]

Tags: Business Links, Business Tax, NY State

Why Choose a Limited Liability Company (LLC) over a Corporation For Your Small Business?

An LLC  combines the limited liability advantages of a corporation with the control and tax advantages of a partnership.  You can elect to have your LLC taxed as a corporation, or you can elect to have it be a “pass through” entity (taxed like a partnership – the LLC’s income and losses are reported on… [Read More]

Tags: Business LLC, Business Tax, New York business attorney, NY business lawyer

What are the benefits of having an LLC?

A New York Limited Liability Company  has the following benefits: Liability Protection Like a Corporation. New York LLC members are generally protected from personal liability for debts and claims of the business. This means that if the business can’t pay a creditor or gets sued, the creditor cannot legally come after the member’s personal assets… [Read More]

Tags: Business LLC, Business Tax, Convert, Operating Agreement, Partnership

Starting an LLC or a Business in New York? Here is my Business Startup Checklist

As a corporate attorney, I am frequently asked for a checklist of items to consider when starting a business.  Here is a “10,000 foot” overview of what needs to get done in starting or buying a large or small business in New York: Choose Your Business Structure What type of structure is right for your… [Read More]

Tags: Business Checklist, Business Links, Business Tax, Operating Agreement