All corporations (C-corporations and S-corporations) are required by North Carolina law to hold annual meetings of Shareholders and Directors.  While corporations are always at risk for not holding these meetings in the event of an Internal Revenue Service audit or civil lawsuit, this year the IRS is focusing on small- and medium-sized businesses to audit [...]

Businesses and their lawyers across North Carolina are buzzing over reports being sent by the North Carolina Secretary of State’s office to corporations and limited liability companies who are late filing annual reports. 

A Taxing Consideration:  Choosing a Business Structure (Sole Proprietorship) When people are starting a business, they are often very confused and overwhelmed as to how to choose an entity, or even whether they need one.  Many entrepreneurs look at limiting their legal liability but never consider the tax implications of their business entity.  The only [...]

The North Carolina Business Court recently ruled in Mitchell, Brewer, Richardson, Adams, Burge & Boughman, PLLC; v. Brewer that the NC Limited Liability Company Act does not permit a member of a limited liability company (“LLC”) to voluntarily withdraw from the company unless there is a written agreement that permits it.  Even to me, this [...]

A few weeks ago, I blogged about whether or not you truly need an attorney to form an LLC or corporation.  I thought that would spark a lot more discussion about people’s experiences good and bad with  Legal Zoom, The Company Corporation, BizFilings, etc.  Today, I am following up that post with the view from [...]

Today is the deadline for providing 2008 tax forms to employees (Form W-2 for employees who earned any amount) and independent contractors (Form 1099-MISC for independent contractors who earned a total of $600 or more from you).