Steven Stark Licensed in FL, NY
Richard Gora Licensed in CT, NJ
Joshua Garber Licensed in CA
Shahzad Khan Licensed in IL, TX
Robert Hawkins Licensed in TX
Anil Ali Licensed in TX, Patent Bar
David Johnson Licensed in TX
John Burns Licensed in TX, Patent Bar
Trenton Roberts Licensed in TX
William Underwood Licensed in TX
College Station Startup Lawyers
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- 2 min read
501(c): What is it?
501(c) is a section of the federal regulations which list the type of companies that can be exempt from paying taxes according to the Internal Revenue Service (IRS). These types of companies are referred to as 501(c)s.
Types of 501(c)s
There are 27 types of organizations that can file for 501(c) status. Many of these are not applicable to the average business. The organizations seeking tax exemptions are usually:
501(c)(3) Public Charities and Private Foundations
501(c)(4) Civic Leagues, Social Welfare Organizations, and Local Associations of Employees
501(c)(5) Labor, Agricultural, and Horticultural Organizations
- 5 min read
Starting a Business in Florida
When you want to sell products or services in Florida, you'll need to create a business entity and register with the state. You may also need to register with county and city governments in those places you intend to conduct your business, depending on the type of business you are starting, and on local regulations and ordinances. Here’s a look at the steps you will want to follow to get your business started on the right track:
Do Your Research: Once you’ve decided what kind of business you want to start, you will need to put in some real time and effort to research the wheres, whens and hows to make your new business a success. This means putting together a business plan that includes such items as financing, goals and objectives, location, your target market, analysis of your competition, etc. The more detail, the better.
Remember that the success or fai
- 6 min read
What Is Preferred Return?
A preferred return—simply called pref—describes the claim on profits given to preferred investors in a project. The preferred investors will be the first to receive returns up to a certain percentage, generally 8 to 10 percent. Once you reach this profit percentage, the excess profits are split among the rest of the investors as agreed upon in negotiations. This type of return is most commonly used in real estate investment.
How Is the Preferred Return Calculated?
There are three main questions when it comes to calculating preferred return:
- Is it compounded or non-compounded? Compounded means that the calculation of a preferred return periodic growth amount comes from the amount of invested capital plus all previously earned but unpaid amounts.
- Is it cumulative or non-cumulative? Cumulative means that all the m
- 2 min read
EIN: What is it?
EIN is an Employer Identification Number that serves as your business’ social security number. It is a unique 9-digit number that your business will use for all federal and state tax filings. This number is permanent throughout the life of the business unless ownership or legal structure is changed.
The EIN may also be required to:
Open a business checking account
Acquire a line of credit or other funding
Create accounts with various vendors
Depending on the form you are completing, an EIN may be referred to as the Tax Identification Number (TIN) or the Federal Employee Identification Numbe
- 3 min read
Establishing a business in Pennsylvania is a multi-step process. If you follow these guidelines, you will avoid fines, penalties, and other legal and tax problems down the road.
Be sure to start with a business plan and formalize your ideas. Simple research and planning can go a long way toward a successful business. Although you do not technically need a business plan, it can help you plan and develop your business in the future. It can also help you secure financing as well.
Choose and Reserve a Name for Your Company
Search Pennsylvania's database of businesses that have already registered their names. Choose and register a name for your business with the Pennsylvania Department of State. The Department prohibits two companies from having similar names, so have a few names in mind in case one is already in use. The D