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Articles Posted in Partnerships

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LLC: Choosing a Management Structure

Limited liability companies combine parts of both corporations and partnerships. Because they’re a hybrid, LLC’s can be more difficult to setup. One part of this process involves choosing a management structure to fit your specific LLC. Single Member or Multiple Member LLC The difference here is implied in the name.…

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Business Entities: Beware of New Reporting Requirement for Change of Mailing Address, Business Location or Responsible Party

If you are an employer in San Jose, you are most likely aware that on January 1, 2014, the minimum wage increased to $10.15 per hour for your business; California’s minimum wage increase was to $9 per hour. In addition to new employment laws, there, there have been other new…

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A Checklist for Closing Down a Business

Small businesses dominate the U.S. economy. According to the U.S. Small Business Administration (SBA), 99% of all independent companies in the U.S. have less than 500 employees. As a small business attorney in San Jose, most of the time I am working with clients to form new businesses. However, as…

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New Corporate and LLC Startups May Find Relief with the Passage of a New Bill in California

In Silicon Valley, home to many large technology corporations and thousands of innovative startups, businesses need to move quickly to stay ahead of the competition. As a small business attorney in San Jose, I have formed countless of limited liability companies (LLCs), partnerships and corporations with the Delaware and California…

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When the Minimum Franchise Tax is Not the Minimum Franchise Tax

Every corporation, limited liability company and limited partnership, that either forms in California or registers to do business in California must pay an annual minimum franchise tax of $800. However, I just read an article in Spidell’s California Taxletter that really annoyed me (Volume 34.7, July 1, 2012, pages 75-76).…

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New Rules for Business Entities Change of Ownership Reporting for Real Property

As a Silicon Valley business lawyer, I have many clients that are limited liability companies, partnerships, and corporations which own real property in California. It is common knowledge that when property changes hands in California, the property will be reassessed (unless an exception applies). However, people often forget that similar…

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Employee Terminations

Whether your company is a large manufacturer corporation in San Jose or a small service partnership in Los Gatos, you will eventually be forced to deal with terminating an employee. Terminations can be especially daunting because they are one of the most common reasons companies are sued. Therefore, whenever possible,…

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New Rules for California Limited Liability Partnerships (“LLP”)

Since 1995 only attorneys, architects and accountants were eligible to practice as a limited liability partnership in California. However, as of September 30, 2010 new rules now allow engineers and land surveyors to take advantage of the LLP form of entity as well. Although the law currently only extends until…

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