Well, it’s safe to say that 2020 didn’t go in a way any of us could have easily predicted. We made some solid guesses on what might happen in 2020 and in 2019 but most of our predictions got derailed by the pandemic. That being said, here’s our thoughts and predictions on 2021 as the …
An operating agreement is an internal document that outlines how a limited liability company will be run. Basically, it includes everything the founders want to document about how to run their business. Operating agreements can include all kinds of provisions, including specifics about when and how distributions are declared, who will serve as the managers, …
What is an operating agreement and do I need one? Read More »
One of the biggest questions we get involves whether an entrepreneur should form a limited liability company (LLC) or a corporation when starting their business. We have previously written about different types of entities and provided an overview of several types of entities, including corporations and LLCs. This post focuses exclusively on the differences between …
A limited liability company (LLC) is one structure for a business. There are a few different ways to structure your business. However, we have a more in-depth overview of the entity types here. In order to set up an LLC, an individual or organization should follow these steps: Pick a name This is possibly the …
It’s that time of year when Delaware corporations start receiving franchise tax notices for annual taxes due by March 1st. Business owners may be shocked to see the total amount due for their corporation but they shouldn’t panic; they could owe significantly less than they think. Delaware has two methods for calculating annual franchise taxes: …
Eight months after the enactment of AB 5, California’s Employee Classification law, employers are once again having to re-evaluate the status of their California employees. Earlier this month, California’s Governor signed AB 2257 into law, which carves out additional exceptions for industry freelancers. Background on AB 5 & AB 2257 AB 5, or the “gig …
Legislative Update: AB 2257 is now California law – now what? Read More »
This post and the previous post outline the employers’ responsibilities to new employees under California state law as this year, California employers are finding themselves having to treat former independent contractors as employees. This not only applies to employers physically operating in California but also any employer who has workers located in the state. (1) Provide …
What California Employers Need to Know about Newly Classified Employees, Part 2 Read More »
In the aftermath of the 2018 Dynamex decision and its subsequent codification in AB5 (the “gig workers bill”), California employers are finding themselves having to treat former independent contractors as employees under California state law. This not only applies to employers physically operating in California but also any employer who has workers located in the …
What California Employers Need to Know about Newly Classified Employees Read More »
Earlier this month, a California judge ordered Lyft and Uber to reclassify their workers while the litigation over the companies’ compliance with Assembly Bill No. 5 (AB5), A.K.A. “the gig workers bill,” continues. The order comes after more than a year of Lyft and Uber refusing to classify their drivers as employees under the new …
