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Protecting Your Business in the Tri-State Area

business being done in tri-state area

To the surprise of many entrepreneurs and small business owners, you can’t just go out and start doing business wherever you want. You have to register your business, follow labor laws, and obey local licensing requirements. If your business is expanding into other states, mazel tov, your company is growing! Now for the bad part, things just got a whole lot more complicated. Instead of trying to comply with one state’s laws, now you have to figure out the laws of other states as well. But what exactly does this mean for your business? Do you have to comply with the laws of every state you are in? In this blog, we’ll discuss how you protect your company if you do business in New York, New Jersey, and Connecticut (the “Tri-state area”).

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How to Protect Your Company When Relying on Investors

business lawyers in a corporate board room talking to investors

Capital for your startup typically comes from one of three places: self-funding, debt financing, or equity financing. If you’ve chosen to raise capital through equity financing that means you are most likely relying on investors. Money is never free; even Uncle Sam gets his share if you win the lottery. Investors expect a certain amount of return and/or equity in your company when they invest. Yet, you still need to protect your interests and not give away the farm. Protecting your stake in your startup requires clear and formal documentation to solidify any agreement you make with investors.

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The Benefits of S-Corps

business attorney setting up an S-Corp from her desk

Anyone starting a new business is faced with a lot of decisions. Arguably the most important is choosing the business entity type and tax status. Entrepreneurs have many options to choose from, including S-Corps, LLCs, C-Corps, and sole proprietorships. 

Each type of business has its benefits and limitations. An S-Corp is unique because it is technically a tax designation, which can be used by LLCs and Corporations. This blog will discuss the benefits of an S-Corp.

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Don’t Call It A Partnership!

When two people agree to form a business together, what would you guess they call it? Naturally, many people use the term “Partnership.” In some instances, Partnership is technically correct, like when two or more attorneys share an office and referrals, or two accountants do the same. However, today the term “Partnership” is misused by many, and it could have an impact on their business.

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Checklist for Hiring Your First NY Employee

Two businessmen speaking with a businesswoman and shaking hands with her as they offer her a job.

For many startups and businesses, hiring your first employees can be an anxious process. Hopefully, this checklist will help entrepreneurs get past the initial hurdles and feel more confident moving forward.

The Ultimate Checklist for Hiring Your First Employee in New York is in chronological order to the extent that some things need to be done before others, but the exact order doesn’t always matter. Do what you can as soon as you can to ensure you comply with federal and state requirements.

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Do I Need a Certificate of Authority to Do Business in NYC?

Certificate of Authority. A close up of startup employees reviewing figures and paperwork with a tablet and laptop.

New York State’s Department of Taxation and Finance issues Certificates of Authority to businesses which authorize them to collect sales tax from customers. This also allows them to honor the tax-exempt status of non-profit agencies with whom they do business. You might be wondering when and if you need a Certificate of Authority for your startup or business to do business in New York City; especially if you are a foreign (whether U.S. or international) entity.

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