Establishing Business

Posted on : June 30, 2015

Washington D.C. business lawyers can explain that there are many steps that are necessary when forming a new business. Here is an overview of the steps necessary.

Licenses

Some businesses require that the owner or employees have certain licenses. This includes doctors, lawyers, accountants, teachers, engineers and architects. Other professions that may require licenses include barbers, real estate agents and auto mechanics. You may also be required to obtain a license if you sell certain products. Obtaining a license depends on the type of license that you are seeking. Some licenses require demonstrating adequate education and experience in a particular field. Other licenses are only issued after a background check and successful completion of a written exam.

Tax Registration

You may need to secure a permit or license if you collect sales tax. This amount is paid to the government. Services may not be taxed as goods are. Inquire with Washington D.C. business lawyers if you need to register with the department of revenue or the treasury department.

Business Entity Filings

Limited partnerships, LLCs and corporations must file with the Secretary of State’s office to register a business entity. Such filings are not usually necessary if you are establishing a sole proprietorship or partnership. However, you may be required to file your business’ name with the county clerk.

Employer Responsibilities

If you have employees, you have myriad other responsibilities. This includes paying for workers’ compensation insurance and unemployment insurance premiums. Additionally, you will have to secure an employer identification number and withhold the appropriate amount of taxes from employees. You must pay these taxes to the state and federal governments.

Other Responsibilities

You may have additional legal responsibilities, based on the type of business that you run. For example, you may have to obtain certain environmental approvals regarding pollution or hazardous waste.

Legal Assistance

For more information on legal assistance in establishing your business, contact Washington D.C. business lawyers at Schleifman Law, PLC.

Legal Capacity to Contract

Posted on : June 26, 2015

Fairfax contract attorneys who are involved in a dispute may consider whether each party had the requisite ability to contract as part of their support or defense.

People Who Lack the Ability to Contract

Fairfax contract attorneys can explain that certain individuals are considered to lack the necessary capacity to contract. For example, minors lack capacity. Likewise, mentally ill individuals lack capacity to contract.

Legal Effect

Lacking capacity means that these individuals are presumed to not know what they are doing. However, simply because they lacked capacity does not mean that the contract is automatically invalid. Instead, the party who lacked capacity to enter into the contract, at his or her choosing, can void the contract. This allows the incapacitated party from being forced into a contract that takes advantage of his or her lack of capacity. If the person wishes to continue the contract, this can be the end result. The other party does not have the right to use the incompetent party’s lack of capacity to get out of the contract.

Minor Capacity Issues

Minors usually do not have the requisite right to contract. However, there are certain exceptions. For example, minors may be responsible for contracts involving necessities like lodging or food. Additionally, if the minor becomes an adult by turning 18, he or she may be bound by the contract that he or she entered into before having capacity.

Mental Incapacity

The legal standard for capacity is that the party understood the contract and the effect of the contract. However, other tests have been used. For example, some courts apply a test in which a contract is voided if the other party knows of the incapacitated party’s inability to act in a reasonable manner. Another test assesses the individual’s ability to judge whether or not to enter into a particular contract.

Legal Assistance

If you would like more information on capacity issues, contact Fairfax contract attorneys at Schleifman Law, PLC.

Overview of a Manager-Managed Single-Member LLC

Posted on : June 4, 2015

If you have questions about a limited liability company or a single-member limited liability company, our Arlington business lawyers can discuss business structure with you. Your company can be subject to either management by the members or by the managers. If you want a management-member structure, you need to specify this in your formation documents, or it could be set up as a member-managed LLC.

LLC Management Structures

In an SMLLC run by managers, the manager is a separate role from the owner. However, you can still own and manage your own company although you can designate a separate manager if you so choose. On the other hand, the owner automatically serves as the manager in a member-managed SMLLC.

Manager and Owner Roles

The manager has specific responsibilities that typically include signing contracts, hiring and firing, and managing daily affairs for the company. An owner generally takes care of other matters, such as amending any operating agreements, liquidating company assets, dissolving the LLC, and handling any business outside the normal course of action. The owner needs to give permission to handle any of these affairs although they can be appropriately delegated to a manager.

Formation of a Manager-Managed SMLLC

The manager-managed SMLLC must be set up as such from the start. The owner-manager can then set up the person or persons they want to run the business. For example, if the business oversees rental properties, they can set up someone to handle daily business mattes, such as rental collection, showing units and handling repairs. Generally, the owner fills that role but might hire employees to help. If the owner becomes unable to handle these affairs or dies, they can set up another person to take over for them.

Contact Our Arlington Business Lawyers

The legal professionals at Schleifman Law, PLC understand the complexities of your business issues, including LLCs and SMLLCs. Our Arlington business attorney looks forward to talking helping you with these matters.

Contact Us

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