Have you considered starting a business during the Coronavirus Pandemic?
The Empire State Development Corporation (the "ESDC") issued further guidance to inform businesses in New York State whether they are an “essential business” or if they are subject to the current workforce reduction mandate issued by Governor Cuomo.
By the ‘New York State on PAUSE’ Executive Order, Governor Cuomo directed that by Sunday, March 22, 2020, at 8:00 p.m., all businesses and not-for-profit entities in New York State shall reduce their in-person workforce at each individual business/work location within the state by 100%. For the purpose of this Executive Order, the ESDC provided the following additional guidance on what "Essential Business" means:
On June 14, 2019, Governor Andrew Cuomo signed the Housing Stability and Protection Act of 2019 effectively codifying a new era in the State’s landlord-tenant regime. As the name suggests, the law puts into effect widespread regulation aimed at protecting and promoting tenants’ rights. If you are a landlord, this Act may have you wondering how these changes may affect your business dealings going forward. In short, many aspects of prior leases may need to be revisited, revised or scrapped altogether to ensure full compliance with the new regulatory landscape.
The Internet has transformed the national economy in recent years as America has gradually become a nation of online shoppers. E-commerce offers a number of appealing perks: low prices, stay-at-home convenience, a myriad of choices, and—until now—sales tax-free purchasing.
Considerations Regarding Tax Burden Allocations Among Members & Owners
In forming your business, considerations regarding control or transferability of interest and the like may be at the forefront of your mind, and tax considerations may be relegated to the backseat. However, choosing between different non-tax options can result in different tax outcomes for your business. You can meet your non-tax options and goals with creative solutions, while at the same time being cognizant of the tax implications of those choices so as to keep the tax burden as low as possible.
Thomas Hughes, Associate Attorney, and Scott Mecham, Director of Business Operations, sit down to discuss HoganWillig's efforts to help struggling businesses get back on track.
Keep reading to learn more about non-compete agreements in the workplace.
Learn more about the steps and processes one needs to be aware of to start a business.
Learn how HoganWillig is working to save and restructure struggling businesses
Picking the right business structure is a critical, since your choice can impact how you pay your taxes, how much paperwork you need to file, and how you can distribute your profits. Below is a list of the types of business structures along with how advantageous and disadvantageous they are. One form is not necessarily better than any other. Each business owner must assess his or her own needs. It may be important to seek advice from business experts and professionals when considering the advantages and disadvantages of a business entity.