Author RSSWorkers' Compensation Insurance
Workers' Compensation Law
The Workers' Compensation Law became effective in New York on July 1, 1914. The law is administered by the NYS Workers' Compensation Board. Under the law, an employer is obligated to provide workers' compensation for his em...
Professional Corporation
The Professional Corporations (PCs) are these entities of corporation for which many act of company make the special provision, regulating the use of the corporate form by licensed professionals such as attorneys, architects, engineers, accountants and do...
INCOME TAX-FILING INFORMATION
Do i have to file return?
You must file a federal income tax return if you are a citizen or resident of the United States or a resident of Puerto Rico and you meet the filing requirements for any of the following categories that apply to you.
The filing...
What is reseller program?
A reseller program is a phrase sometimes used to describe an affiliate program. Strictly speaking, it's a bit different.
A reseller buys products in bulk and resells them, collecting the money from the customer. In contrast, an affiliate does not hand...
Corporation Dissolution / LLC Dissolution
Dissolution of business could be for variety of reasons for example: bankruptcy, retirement, or a change in career direction. When a business entity is no longer doing business or even if it was never used for anything, it is very important that it follow...
Why Bookkeeping Is Necessary For My Business?
Bookkeeping, commonly referred to as keeping the books, is the process of keeping full, accurate, up-to-date business records It is the process of recording and classifying business financial transactions (activities), maintaining the records of the finan...
What is a Trademark?
A trademark is any word, name, symbol, or device, or any combination, used, or intended to be used, in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others, and to indicate the source of th...
Foreign Entity Qualification
What is Foreign Entity or foreign entity qualification?
A foreign business entity is an entity formed under a statute or common law in a jurisdiction other than the state in which your corporation was originally formed. The foreign LLC or foreign corpo...
Import and Export License
Definition of Import
The term "import" is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer" who is based in the country of import wher...
Article of Domestication
Domesticating involves the "transfer" of an existing corporation to a new jurisdiction. If you are planning to relocate your business outside of the State within which you are now incorporated, you may want to domesticate. Although you have the option of ...
What is form W-2 (Wages)?
A W-2 form is an earned income statement containing a detailed set of information, including your total income (wages, tips, commission) and the amount of federal, state and social security taxes that have been withheld. Your W-2 is the most important doc...
What is form 1099(Outside Services or Sub-Contractor)?
Working on a 1099 basis actually means that you are working as a true Independent Contractor under the IRS rules. You work on a 1099 basis when you are self employed such as a sole proprietor or as a corporation. Your clients will report the monies they p...
ARTICLE OF CONVERSION
Can I draft my own article of conversion?
Yes. You may, however, draft your own Plan of Conversion. Templates for a Plan of Conversion and Exhibit A are supplied, but their use is optional.
I wish to convert my corporation to a limited liability com...
Limited Liability Company (LLC)
The Limited Liability Company or LLC is not a partnership or a corporation. Limited Liability Company (LLC) is a relatively new business structure allowed by state statute. An LLC is a distinct type of business that offers an alternative to partnerships a...
What is registered agent?
A registered agent is the person appointed to accept legal documents on behalf of the corporation. If someone sues you, the papers will be served on the registered agent at the "registered office". Some states use the term "resident" agent. Corporations a...
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