We have talked a little bit about the different reports that the state requires corporations and limited liability companies to file, but what happens if you forget to send your annual report in? Or what if you find that you simply don’t have the money to pay for the franchise board tax, or the filing fees associated with all of that regulatory paperwork ? Well, you may find your business placed in ‘bad standing,’ branded with a non-compliant mark and, if you don’t take any action to get back into good standing, your business could be involuntary dissolved. Over the years we have talked to a few business owners who were forced through the dissolution process, and often one of the first questions they ask is ‘how do I reinstate my business after dissolution?’ Luckily it is usually a straight-forward process, though it can get a bit expensive.
Every state is different when it comes to corporate law. Some, like Nevada or Delaware, are known for their business friendly atmosphere and extremely low corporate tax rate. As for other states, well let’s just say that not every state is as friendly towards small business as it should be. Knowing how each state stacks up in terms of laws, fees, and friendliness is enormously helpful when trying to figure out where to form your corporation. Over the next fifty weeks, we are going to look at the basics of corporate law and culture in each of the fifty states on our blog to help our readers better understand how to form and run a corporation in each state. And today we start with Alabama.
Alabama, despite not being as well known as Nevada or Delaware when it comes to incorporating, was actually ranked the second most business friendly state in the United States by thumbtack.com. Over the last few decades Alabama has made it extremely easy to start and run a business, and the lack of an over-regulatory government has meant that small businesses across an array of industries have been able to flourish and help the local economy.
Whether your new office is 100 square feet or 1000 square feet long, it’s still going to require furnishing. Sometimes, though, the office is the last room in the house to get furnished or it’s for a small business that doesn’t have a lot of cash to allot towards furniture and other similar overhead expenses, so the budget is already used up or has very little remaining to spend. If that’s the case for your home or office, don’t worry – these four tips can help furnish your office on a budget.
1. Utilize Your Current Furniture (more…)
This article was originally printed on LearnVest.com.
You’re free! Free to sleep in until 11 a.m., free to work while your adorable toddler plays at your feet, free to … keep really good records of all your expenses for your taxes.
We know. Not so fun. The reality is, being self-employed can be awesome for 11 months out of the year, and then come crashing down on your head in the form of lost receipts and unpaid estimated taxes in April. We want to save you from that sinking feeling. Read on for what every freelancer needs to know for your taxes.
Get Organized (more…)
Oh, the elevator pitch. Everyone is supposed to have one – tucked away in their back pocket, ready to be unleashed. Typically most elevator pitches have been hanging on with their writers since college, hurriedly scribbled down the night before class. They’ll tweak it depending on the occasion, but after a while the delivery goes stale.
Minds always begin to wander the minute an opener like ‘Our company represents the future of…’ is uttered anyway. (more…)