“Nonprofit” and 501(c)(3) seem to go hand in hand. But something interesting popped up on my radar the other day, it turns out that not every “not for profit” needs to qualify for tax exempt status under the Internal Revenue Code section 501(c)(3) in order […]
LLC decision making: LLCs are unique in that “ownership” has two different meanings. First, it means the right to make decisions about how the business is operated. That’s called “Membership” and “Management”. Second is a right to receive profits from the LLC, that’s called an […]
Shareholder removal. This seems to be coming up a lot lately: small businesses trying to get rid of “partners” or specifically, shareholders. This article will discuss some ways that a small North Carolina business can move out unproductive or unwanted shareholders. It’s not always easy […]
Short post today about bragging rights in the marketing / social media contract. Let’s start by defining what I mean by “bragging rights”. Bragging rights are the right of one party to a contract to publicize the fact that they are working with the other […]
Ready to start and grow your business on the right track? Ready to learn about growing your business? Start your business out right by creating a clear framework for operating the business, growing it, working with investors, and selling it. In this business seminar we’ll […]
I might do a few of these posts about share terminology in the corporate structure. Today I’m talking about authorized, issued, and outstanding shares. There’s three states a share can be in within the corporate structure: authorized (sometimes called “available”), “issued”, and “outstanding”. First Up […]
Corporations: What Are Bylaws and Why Does Your Business Need Them? Bylaws are the structure of how your business operates. Who gets to make what decisions, who doesn’t get to make decisions, how to resolve disputes among owners, how to bring in new owners and […]
Wage Regulations in North Carolina. North Carolina is a bit of a gem in its business regulations in that it leaves the pay relationship between the employer and employee for the most part. The NC Legislature has enacted some common sense regulations, however, to keep the employer […]
The corporate conglomerate. This post discusses ways to organize a business structure when one business “owns” (informally speaking) several disparate businesses. I have a client that owns a transportation company, landscaping company, barricade rental, and some other seemingly unrelated companies. Each has their own insurable […]
Memorandum of lease. What is it, why does your North Carolina business care, and what should you do about it. That’s what we’re talking about today. What Is a Memorandum of Lease? In North Carolina, a lease holder may record the fact that it has […]