Blog

What is a Series LLC?

Now, if you are a loyal reader of my blog, and I’m sure you are (wink, wink)…you read my article on the benefits of incorporating.  And if you’ve done some homework, you’ve discovered that Nevada is a pretty friendly place to incorporate your business. In addition to having no state income tax, and relatively low business […]

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To Incorporate or Not to Incorporate?

I sometimes get calls from people asking whether they should incorporate.  When I am somehow able to stifle my automatic “YES YOU SHOULD!” knee-jerk reaction, I calmly provide some semblance of a well-reasoned argument in favor of incorporating. Now, to clarify, by “incorporating” I don’t necessarily mean forming a corporation.  I simply mean forming an […]

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Amazon to Collect Sales Tax from Nevada Residents

On April 23, 2012, Nevada Governor Brian Sandoval and Amazon.com announced an agreement that Amazon would begin collecting sales tax on purchases made by Nevada residents starting at least January 1, 2014. Even when Nevada residents make a purchase that doesn’t involve paying sales tax, Nevada law requires them to remit the equivalent sales tax […]

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LLCs, Corporations No Longer Eligible for State Business License Exemption

Previously, entities such as LLCs and corporations in Nevada could apply for an exemption from the $200 annual state business license fee if the business was home-based and made less than approximately $26,000 a year. Today, the Secretary of State issued a press release about its regulation clarifying that the exemption was intended to apply only […]

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Someone Owes Me Money – What Are My Options?

People often ask me how they go after someone who owes them money.  There seems to be a misconception that if you sue someone who owes you money, the lawsuit can be wrapped up within the span of an hourlong TV show and you magically get all your money and your attorney’s fees back in […]

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Get Involved as a Mentor for the Clark County School District

Earlier this week, Clark County School District Superintendent Dwight Jones announced the Reclaim Your Future program, in which mentors from the community are paired with high school students to help raise the graduation rate.   CCSD is partnering with the United Way, Workforce Connections, the Las Vegas Chamber of Commerce, and Vegas Young Professionals to […]

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Saving Money with an Out-of-State Entity? Maybe Not.

I recently met with a client who had formed a Wyoming LLC because it appeared that he would save a few bucks on fees.   He lives and works in Nevada and has no other connection to Wyoming other than the LLC he formed.  I asked him if he was aware of and complying with […]

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What Types of Records Should Be in My Corporate Book?

Recently, I made a pretty compelling argument for maintaining a corporate book, if I do say so myself.  Now that you’re convinced, what types of records should be included?  Generally speaking, you should include records of corporate meetings of members or shareholders, action taken without holding a meeting first, and approvals of common business decisions. […]

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Why Do I Need a Corporate Book?

When you form an LLC or a corporation with a commercial formation company, you’ll usually receive as part of the package a fancy-looking fake leather binder, sometimes with a heavy metal document sealer thingy.  Often, this binder sits on your shelf, gathering dust, doing you and your company absolutely no good.  There are many reasons […]

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Why You REALLY Need an Operating Agreement

I’m super serious this time. Lately I’ve heard from a number of business owners whose partners have stopped contributing to the business, financially or otherwise, and the business owner calling me simply wants out.  Of course, it’s rarely simple. A few callers are lucky in that the company has not yet transacted any business and […]

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