ITINs, EINs, and Responsible Parties
In order to open a bank account for your business entity, you have to present Articles of Organization/Incorporation and an EIN, which is an Employer Identification Number issued by the IRS. In order to apply for an EIN number, you have to supply the EIN, ITIN, or Social Security Number of a “Responsible Party” for […]
Should I Form a New Entity for My Idea?
You have a new idea and you’ve got a guy who has connections or resources or ways to help get that idea off the ground. It’s clear you want to work together. The assumption is, often, that you’ll “simply” form a new entity, like an LLC, to make this idea happen. Holdupwaitaminute. Now that my […]
Guest On The Essentials Small Business Podcast
Some of the most important decisions you make for your business are made before you even start, when you have the least amount of information. Listen to this podcast to learn ways to make educated decisions that will serve your business for its lifetime.
Changing Your Entity in Nevada – Conversions and Domestications
Are you thinking of relocating your existing business to Nevada, or reorganizing as a different entity type? As business attorneys, we get asked about this all of the time. Nevada allows owners of foreign entities to convert or domesticate as Nevada based companies. This allows you to keep your EIN, the credit your company has […]
Buying a Business – Asset Purchase or Stock Purchase?
Recently I’ve walked clients through buying or selling a business. My concerns are obviously different depending whether I’m representing the buyer or the seller, but there is a fundamental difference between the types of agreements used in these transactions, and fundamental misunderstandings I can clear up. Often, a prospective buyer will tell me all about how wonderful […]
What to Do with Contracts
I know when I see not one, but two self-assigned tasks regarding contract stuff I deal with daily and now take for granted, it’s time for a blog post. In recent weeks, I’ve met with far too many clients who 1) haven’t signed contracts they now want to enforce, or 2) want my advice on a […]
I used to make these every New Year’s Eve, because they’re great for morning-after breakfast with the butter and cheese. No, it’s not a traditional Spanakopita because it doesn’t have spinach. I find the spinach can have an overwhelming taste…kind of like dirt. No, thank you. Here’s my favorite recipe. It was a huge hit […]
Nevada Wage Claims
First, what is a wage claim? Any person who has previously worked for you, in any capacity, can file a wage claim with the Nevada Labor Commissioner for money they claim they earned but that you didn’t pay. The important thing to know, if you don’t read any further in this article, is that the […]
Clark County Real Property Transfer Tax
If you’ve ever purchased or sold real property in Nevada in the last 50 years, you’ve probably come across Real Property Transfer Tax. The state of Nevada imposed the Real Property Transfer Tax (“RPTT”) in 1968. Pursuant to NRS Chapter 375, RPTT applies to the transfer of all real property in each county of Nevada, […]
Changing Ownership Interest in Your Company
Boy, has this issue come up a lot lately. I know you’re tired of hearing me say it, but this, like many other issues in your business, is not as simple as you think. Regardless of whether you are selling interest, giving it away, or allowing someone to work for your company in exchange for […]