Learn more about protecting your personal and company assets.
Nearly every business must have at least one license. Determining which licenses are required by your state and local government and then complying with all the paperwork can be time-consuming and vexing. However, failing to comply and stay current with license requirements can result in fines, penalties, business closures, and lost customers.
Customers love gift cards and most plan to buy some this year. If your business issues gift certificates, you need to understand the rules governing them.
An ambitious joint enforcement program between Connecticut's Secretary of State and its Attorney General to collect penalties from businesses that failed to register and obtain a certificate of authority to do business in Connecticut netted nearly $1.8 million in Fiscal Year 2015.
If your company is planning to expand your business to another state, you will need to obtain a certificate of authority to complete foreign qualification. If your company isn't compliant with this foreign registration, the legal implications will be costly. Learn more and stay in compliance.
Businesses have to handle license, permit and registration requirements throughout the business life-cycle. Whether a business chooses to do this with internal resources or to outsource some or all of these obligations, business licensing compliance is increasingly important in today’s regulatory environment.
If you have a corporation or an LLC, changes that you make to your entity's name, management or ownership may trigger the need to document those changes with your home state and each state where you have registered to do business.
After a corporation, limited liability company (LLC), or other entity is formed it will need to maintain “good standing” status in state records. A status other than “good standing” could inhibit expansion into other states or the ability to obtain financing. It might also jeopardize the owners’ limited liability.
Any business that uses a name other than its legal name should take steps to comply with the assumed name statutes in the states in which it does business. Failing to do so can expose both the business and owners to unpleasant consequences.
The federal Third Circuit Court of Appeals has recently confirmed a valuable asset protection aspect of using an S corporation. If a subsidiary corporation files bankruptcy, the parent corporation can end the QSub's pass-through tax status, leaving the bankrupt subsidiary with the obligation of paying its own taxes instead of passing income through to a non-bankrupt owner.
Many state laws impose corporate recordkeeping requirements on corporations. Also, shareholders typically have a right of inspection.
The tax deadlines may have passed, but for many small business owners Annual Report deadlines are now on the horizon. Most states impose an annual information reporting requirement on all entities that are formed or qualified to do business within the state. The deadlines, fees charged and information required varies widely from state-to-state, but one fact is true in all states—missing a deadline can have severe consequences.
Effective inventory management eludes many small business owners who often assume only large competitors can create a well-oiled inventory machine. But with some organization, assessments and periodic adjustments to inventory practices, entrepreneurs can improve cash flow and gain valuable insight into their business.
A total quality management must involve employees, customers and suppliers in order to be successful.
Total Quality Management helps small business owners ensure the quality of their goods or services by involving everyone in the business in the effort to satisfy customers with quality work and product.
Although the risks of violating antitrust laws are far smaller for small businesses than for larger businesses (in fact, small businesses are more often the victim than the perpetrator), you still can run afoul of the laws.
A recap of lessons learned and practical tips for running and growing your business, based on the mistakes and success stories of other entrepreneurs.
'Family Limited Partnerships 101' describes the ins and outs of choosing this complicated and extremely popular estate planning tool, including tips on legally sheltering the maximum amount of income and passing it on to your heirs.
Small business owners can ensure the quality of their goods or services by involving everyone in the business in the effort to satisfy customers. There aren't a lot of people to communicate with, and, in a small business, it is frequently the owner or CEO who is in charge of implementing the TQM program.