Phenix City Startup Attorneys & Lawyers

A “golden parachute” is a payment or benefit made by a corporation to certain executives, managers or others (called “disqualified individuals” by the IRS) when there is a “change in control” of that corporation. Internal Revenue Code Section 280G, also known as the “golden parachute payment rule,” is the federal tax provision that covers these payments.

280G: What does it do?

Section 280G both limits the amount of golden parachute payments and imposes a special excise tax on them. The rule applies only if the value of the payment is more than, or equal to,

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Statement of Work: What Is It?

A statement of work (SOW) is a document that lists all the work a supplier will do during a project. It will define the amount of work, the expected quality of the job performance, and the timeframe for completion.

A well-written SOW will help both parties understand the parameters of a successful project. A poorly worded SOW could lead to conflict. The parties may argue over unclear expectations and the definition of good work.

To avoid such arguments, a well-written SOW should include:

• A list of expected products and services
• A list of tasks leading to the product's creation
• Specifics regarding who will handle each of the listed tasks
• Due dates for deliverables
• Payment schedule and deadlines
• Determination of which party will helm the project and handle major responsibilit

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What Are Outstanding Shares?

The term “outstanding shares” (aka “shares outstanding”) refers to the total of all shares of your company’s stock held by all of your investors, including restricted shares owned by company officers and institutional investors.

You will find the total number of outstanding shares listed on your company’s balance sheet under the “Capital Stock Issued and Outstanding” heading. You can also calculate the number of outstanding shares by adding the total number of preferred stock shares to the total number of common stock shares, and then subtracti

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To form an LLC in Colorado, you must first choose a name for your company. The name must contain one of the following abbreviations or terms: "LLC", "L.L.C., "Limited",  "Ltd.", "Limited Liability Company," "Ltd. Liability Company," "Limited Liability Co.", or “Ltd. Liability Co.”. The point is, your company name needs to reflect that you are a limited liability company by containing abbreviations or words that identify it as a limited liability company.

Finding a Name for Your LLC in Colorado

All registered businesses already in existence in the State of Colorado are on file with the Colorado Secretary of State. You cannot have the same name as another LLC already in existence or otherwise

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Experts will tell you that Wyoming is a great state for starting an LLC. Wyoming enjoys a positive reputation for being pro-entrepreneur, and for providing quick and easy formation of an LLC. LLCs in Wyoming additionally enjoy a variety of tax breaks and other benefits. Here’s a look at what it takes to form and operate an LLC in Wyoming.

Wyoming makes it as easy as possible to form an LLC in the state. Nevertheless, it is highly recommended that you consult with a professional, like an experienced business attorney, before starting your LLC formation process.

Wyoming LLC: What Is It?

A limi

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