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Recent C Corporation questions

I have a question on employment law and implied contract of

I have a question on employment law and implied contract of employmentJA: What state are you in? It matters because laws vary by location.Customer: New YorkJA: Has anything been filed or reported?Customer: NoJA: Anything else you want the lawyer to know before I connect you?Customer: No

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Marsha411JD

Doctoral Degree

19,396 satisfied customers
We have new LLC business in CA. The bank is asking should

We have new LLC business in CA. The bank is asking should the business account open as S or C corp. Not sure how to open the bank account. Help appreciated. Vince

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38,836 satisfied customers
CEO of a small company, a C Corporation, in California, and

I am President/CEO of a small company, a C Corporation, in California, and have been in business employing 15 to 45 people for over 30 years. Due to some illegal activities of a Fortune 500 Company, we owe back taxes that are in the neighborhood inclusive of penalties, of perhaps $16o,000.00. We hired a supposed IRS tax expert negotiating Law Firm and over the past 2 years have paid them about $20,000. The firm apparently had negotiated a payment program some months ago but they never related this information to us. An attorney at this firm contacted us today, after return from maternity leave. She said the IRS suspended the payment plan because our company did not comply with the payment schedule. This firm never informed us that the IRS had agreed to a settlement program as they have Power ofJA: Because employment law varies from place to place, can you tell me what state this is in?Customer: Attorney for our Corporation. We are a California Corporation based in Northern California and they are a Law fir based in Colorado. We believe that they are not being truthful and did not follow through as they said they would and a payment plan with theirs was cancelled as the never informed us there was one. My question is can we sue this firm in Small Claims Court for not performing the services they represented. We also need to get documents supporing that they really had conversations with the IRS. At this point we feel they are acting fraudently as they asked today for another $5500.00 to continue to represent us to try to again negotiate for a payment plan they claim they already received, but it was cancelled as we did not perform. of course we con not conform to a plan that we never knew about! We need to show the IRS that we have been trying to come up with a payment plan with an unethical firm, basically IRS Ambulance Chasers" We feel, at this point we would be better off filing a Small Claims Action and Formal complaints with the BAR Association, to try and recover some funs and move forward with direct communication. I would appreciate your feed back and confirmation if we can sue a Colorado Based law Firm in the Northern California court system? Thank you very much!JA: Has anything been filed or reported?Customer: They claim they have filed documents, but we have never seen anything in the last 2 years. We gave them Power of Attorney for dealing with the IRS only. Today , we asked them for copies of all documentation as we have seen nothing and they just want more money?JA: Anything else you want the lawyer to know before I connect you?Customer: I think that is basically it. We have a lot of upside potential as we have been Preferred Suppliers to Intel for over 20 years and have very diversified services, but if we can not set up a payment plan our business and many jobs are in jeopardy. Thank you!

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Irwin Law

Juris Doctor JD

9,312 satisfied customers
Second opinion] - I will to know how I could start a company

Second opinion] - I will to know how I could start a company in offering credit for people who want to do cosmetic procedures.How do i start getting substantive info, not a useless website like SBA.

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

112,798 satisfied customers
I'm thinking about forming a corporation to put my two

Hi Pearl, I'm thinking about forming a corporation to put my two rental properties under it, main purpose of this for college application of my son... such that properties not show up on FAFSA... which type of corporation or LLC should I startJA: Can you tell me what state the LLC is registered in?Customer: CaliforniaJA: Have you talked to a lawyer yet?Customer: not yetJA: Anything else you think the lawyer should know?Customer: thats the only question now, how the company should be set to hide it from FAFSA so I can put my rental properties under the company name

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Ely

Counselor at Law

Juris Doctor

67,120 satisfied customers
We intended to add a partner but never completed updated the

We intended to add a partner but never completed updated the OA. Now there are disagreements about ownership and participation. Is this person considered an owner ?

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Loren

Juris Doctor

40,320 satisfied customers
What are the best ways to form an entity and protect the

What are the best ways to form an entity and protect the assets from liability ? Corporation, S-Corp and which states offer the most protection and best tax basis / rates ?

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Ray

Lawyer

Doctoral Degree

39,100 satisfied customers
I am a international student but I have SSN. I want to ask

I am a international student but I have SSN. I want to ask the process on how to register a small company. I will be needing it because I have to run an online store.what's the process? What's the budget and requirement to register a company?How can I import good from the other country ?I can keep it at my place ?How long the process will take?Plz help me to check all the legal requirements and state that I only need registration because I want to register my brand name and make an online store which will target youth, young students and teenagers.

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Richard

Owner

Doctoral Degree

48,630 satisfied customers
This is a corporate law question. Scenario: C corporation, 2

This is a corporate law question. Scenario: C corporation, 2 shareholders. One is the majority shareholder owning 51 percent of stock. Business has been ongoing for almost 30 years. Shareholders entered into corporation without any sort of Buy/Sell agreement for death or disability. One shareholder is 70 years old (49%) and the other is 66 years old (51%). The 70 year old has had serious health problems for many years and has gradually ceased working over the past 5 years. However still draws his normal salary, bonus and perks, the same as the 66 year old who works the business and keeps it going. The 66 year old offered many years ago to buy the other partner out. He declined. But, at this point, one is working and the other receiving the same benefits. Is the only option to make some sort of offer to the other? Due to age, the 66 year old no longer wishes to buy out the other one.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,186 satisfied customers
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