There a probably a million blogs/articles written on entity selection so I will try to keep this light and get straight to the point. You and entity selection are a bit like Goldie Locks, too hot, too cold, just right! The different entity types of business can be formed under each have pros and cons. Like Goldie Locks, its about finding the right one for you, which can be a challenge. Depending on your needs each entity type has value, and that is what this article will discuss. Hopefully you will find this useful in helping your Goldie Locks (business) the right fit, or at least help you identify things to keep in mind during the selection process.
Forming a legal entity is not always an immediate consideration for start-ups. In some cases, founders may choose to delay formalizing their relationship to ensure that other important business details are first put in place. At a certain point, the founders begin to think about when they must formalize their agreement and form a legal entity. Ask the following questions to assess whether the time has come to form a company for your start-up:
Many developments have happened legislatively and legally since Minneapolis and St. Paul approved ordinances mandating paid time off for employees in 2016. A lawsuit was filed, an injunction issued, appeal pending, and a preemption bill is now progressing through the legislative process. Although any one of these events could change the course of the ordinance, companies should still be thinking about how to comply with the laws should they become effective on July 1, 2017.