Should You File a BOI Report Amid the CTA’s Questionable Constitutionality?
CorpNet Blog
by Nellie Akalp
1w ago
You’ve likely heard buzz about the U.S. District Court for the Northern District of Alabama’s March 1, 2024, ruling that the Corporate Transparency Act (CTA) is unconstitutional because it oversteps Congress’s legislative authority. As a result, plaintiffs in the National Small Business United (NSBU) et al. v. Yellen case may pass (for now) on filing Beneficial Ownership Information (BOI) reports to the Financial Crimes Enforcement Network (FinCEN). My team at CorpNet has talked with many concerned and confused business owners. They want to know if this means they don’t have to file a BOI re ..read more
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How to Perform a Business Name Search for Any State in the US
CorpNet Blog
by Nellie Akalp
3w ago
Along with deciding whether your company will operate as a Sole Proprietorship, Limited Liability Company (LLC), General Partnership, C Corporation, or S Corporation, selecting the right name for your new business is an important early step. And while choosing a name might sound like an easy, straightforward task, it’s imperative that you spend some time and effort making sure you follow the rules laid out by your state. One of the most important tasks is to make sure the name you choose isn’t already taken. Taking a name that’s already in use can result in confusion, or worse yet, legal issu ..read more
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Can You Turn a DBA into an LLC?
CorpNet Blog
by Nellie Akalp
3w ago
Many business owners who operate as a Sole Proprietorship or Partnership use a DBA (Doing Business As) name to market their business more effectively and present a more professional image. A DBA can serve a business well, but it’s important to realize it is just a name. A DBA is not a business entity and does not provide any liability or asset protection for entrepreneurs as a Limited Liability Company (LLC) does. What if you’ve been running your business as a Sole Proprietorship or Partnership and you’d like to switch to an LLC but continue using your DBA name? Can you turn your DBA into an ..read more
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CorpNet Awarded Inc. Pacific Regionals for 2024
CorpNet Blog
by CorpNet Team
1M ago
CorpNet is proud to announce that it has made Inc.’s prestigious Inc. Regionals Pacific list in 2024 as one of the fastest-growing private companies in the country. This is the third year CorpNet has been honored in the regional awards. With a healthy 259% 2-year growth, CorpNet made a significant move from position 75 to 56. CorpNet’s Inc. profile can be found at https://www.inc.com/profile/netcom. “I am beyond proud of the continued growth our company has achieved in the last year and our ability to secure a spot on the coveted Inc.5000 Pacific Regionals list in 2024. Our team continues to ..read more
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How to Become a Successful Solopreneur
CorpNet Blog
by Nellie Akalp
1M ago
If you find joy in working on your own, managing day-to-day operations while scheming grand plans for the future, you may have what it takes to become a successful solopreneur. While there have always been solopreneurs, the concept of a person forming and growing a business on their own has become more widely recognized in recent years, emerging as a legitimate and popular way to work. Let’s take a little time to explore the solopreneur business model, starting with a look at exactly what it means to be a solopreneur. What Is a Solopreneur? A solopreneur, as you’ve probably figured out, is an ..read more
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Should a Single-Member LLC Have an Operating Agreement?
CorpNet Blog
by Nellie Akalp
1M ago
If you’re the owner of a single-member LLC, you may be wondering if you need an operating agreement for your business. It’s a valid question. You may assume that since you are the sole owner you probably don’t need an agreement. After all, you are in complete control of the business. But this assumption is incorrect. While you might be tempted to forego an LLC operating agreement, I encourage you to consider otherwise because there are some significant advantages to having one. An LLC operating agreement may be a new term for you, so I want to explain a few details about LLC operating ag ..read more
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What is a C Corporation?
CorpNet Blog
by Nellie Akalp
1M ago
A C Corporation is a legal structure for a company that is authorized by the state to conduct business. Its owners, who are referred to as shareholders, are taxed separately from the business, and in most cases cannot be held personally responsible for business debt and legal issues. A C Corporation can have an unlimited number of owners, but not every C Corporation is a large company. Many small businesses incorporate and operate as C Corporations, which are known as general, for-profit corporations. If you hear someone talking about a corporation, they’re most likely referring to a C Corpo ..read more
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What Is a Publication Requirement?
CorpNet Blog
by Nellie Akalp
2M ago
Some states require business owners to publish a notice in a local newspaper after they form or make certain changes to their business entities. States’ publishing requirements help inform the public about new business entities and significant changes to existing entities. If you’re considering starting a business you’ll want to make sure you abide by your state’s publication requirement laws. States with business entity publication requirements include: Arizona (LLCs, Corporations) Georgia (Corporations) Nebraska (LLCs, Corporations) New York (LLCs) Pennsylvania (Corporations) Several stat ..read more
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Ten Disadvantages of Choosing a Sole Proprietorship
CorpNet Blog
by Nellie Akalp
2M ago
A Sole Proprietorship is the most popular business structure in the U.S., with nearly three out of four businesses operating as one. But if you’re running a Sole Proprietorship or thinking about starting a business that will operate as one, it’s important that you’re aware of some significant disadvantages to this business model. Let’s start by reviewing the basics of Sole Proprietorships, and then I’ll outline 10 disadvantages that might make you reconsider choosing that entity type for your company. How a Sole Proprietorship Operates A Sole Proprietorship is a simple business structure in w ..read more
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What Business Owners Need to Know About Filing Taxes in 2024
CorpNet Blog
by Nellie Akalp
2M ago
2024 has arrived, which means businesses across the United States need to start thinking about filing taxes for 2023. It’s time to determine deadlines and research any legislative and tax code changes that may affect you and your company. For guidance in preparing your 2023 tax return, I encourage you to talk with a professional tax expert. In the meantime, here’s a quick overview of what business owners should consider when filing their taxes in 2024. Sole Proprietorship Taxes Sole Proprietorships are unincorporated businesses with no distinction between the business owner and the business. T ..read more
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