Actions taken within business entities are sometimes deemed invalid due to procedural defects. For corporations, section 119 of the Corporations Code establishes a clear procedure by which defective ...

"The pick-your-partner principle reflects the notion that members of an LLC have the right to choose with whom they associate in business, because the trustworthiness, creditworthiness and ...

Wythe presented your standard closely held entity business divorce. Two individuals formed an LLC to serve as the vehicle through which they developed a hotel; years later, the co-members’ ...

When people come together to form a new business, everything usually starts off great—it is all smiles and handshakes. Most new businesses do not contingently plan for what happens if the relationship ...

An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

Choosing between an LLC and a corporation can feel overwhelming. Both structures have their pros and cons, and the decision can impact everything from taxes to liability protection. If you’re starting ...

With the increased number of LLCs operating today, the Treasury Department and the courts frequently are called upon to determine the correct taxation of these entities when they elect partnership ...

One of the most significant considerations when choosing a business structure for your company is: “Will it give me the most favorable tax outcome?” And the entity type you select impacts how the IRS ...

When deciding what type of business you should start, the options can seem overwhelming. Two of the most common types of U.S. business structures are C corps and LLCs. A C corp is a company that can ...

Minnesota has a long history of upholding high standards of integrity, good faith, and fiduciary duties by owners both to the company and with one another in closely held businesses. The Minnesota ...