We recently issued a Client Alert – The Corporate Transparency Act – Federal Reporting Required of Your Business in 2024. Since then, there has been a major development regarding the Corporate Transparency Act (“CTA”). On March 1, 2024, a U.S. District Judge in Alabama declared the CTA unconstitutional, holding that it is not an exercise […]

When operating a small business, the Board of Trustees serves as an essential component by guiding the organization toward success and sustainability. One cornerstone of effective governance lies in conducting Board of Trustees meetings in strict accordance with the established bylaws. In New Jersey, the bylaws are the blueprint for the governance structure of a […]

Amid the excitement of launching and operating a small business in New Jersey, it is essential to recognize the legal requirements to ensure the smooth operation and governance of such small business to avoid legal pitfalls. The Bylaws and Articles of Incorporation stand as the cornerstones upon which a small business builds its legal framework, […]

As of January 1, 2024, almost every company in the United States has new, mandatory federal reporting requirements pursuant to the Corporate Transparency Act of 2021 (the “CTA” or the “Law”). The Law’s effective date follows a long period of speculation and confusion about the Law and the practical effects of its implementation for businesses […]

For small businesses in New Jersey, adaptability is the key to long-term success. As your small business grows, you may find yourself considering changes in your business structure. When changing your business structure, small business owners must be aware of the nuanced legal process in New Jersey. Small businesses often start with simpler structures, like […]

Starting a small business in New Jersey comes with numerous challenges and opportunities. Among the crucial decisions small business owners need to make is choosing the right business structure. Limited Liability Companies (“LLCs”) and S-Corporations (“S-Corps”) are popular choices due to their flexibility and liability protection. When creating an LLC or S-Corp, small business owners […]

When it comes to structuring your business in New Jersey, understanding the liability implications of the proper corporate structure is important. Choosing between a Limited Liability Company (“LLC”) and a Subchapter S Corporation (“S-Corp”) significantly impacts how business owners shield their personal assets from potential liabilities. Limited Liability Company (LLC) One of the primary draws […]

In the bustling landscape of New Jersey’s business world, small business owners face a critical decision when structuring their companies: choosing between a Limited Liability Company (“LLC”) and a Subchapter S Corporation (“S-Corp”). While both offer limited liability protection and unique tax advantages, there are distinct differences that can significantly impact business operations. LLCs in […]

Natalie Ohana & Seth Tipton recently published an article in Lehigh Valley Business entitled Corporate Housekeeping – Your Pennsylvania LLC and Common Mistakes to Avoid. In their article, Ohana and Tipton discuss common mistakes an LLC member can make including missed filings, neglecting to execute an operating agreement, or breaching a duty. To read the […]

Sarah Powell & Seth Tipton, recently published an article in Lehigh Valley Business entitled Forming Pennsylvania Limited Liability Companies: Key Considerations for Minority Members. In their article, Powell and Tipton discuss the importance of using an operating agreement to protect the interests of minority owners. To read the entire article, please click here.