For those of you with North Carolina corporations and limited liability companies, remember to file your annual reports with the NC Secretary of State.

A business acquaintance emailed me the other day: “I am seriously contemplating the plunge….hanging out my own shingle. If you were me, what is the first thing I should do? After emailing you.”

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.

We continue our tour of entities with the limited liability company (LLC).

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 [...]