Business Law Insights: Stay Informed, Stay Ahead
Blog
UPDATE ON THE CORPORATE TRANSPARENCY ACT’S REQUIREMENT
Back in January, I wrote about the Corporate Transparency Act (“CTA”). This act required anyone with a corporation or LLC (and a few other entities) to file a Beneficial Owner Report with the Financial Crimes Enforcement Network. However, on March 1, 2024, the US...
Annual Reports, Corporate Requirements, and The Corporate Transparency Act’s Owner Beneficial Reporting Requirement
It is that time of year again when corporations must file annual reports. Never fear because it is a straightforward process you can do yourself through the Secretary of State’s website, or I’m always happy to do this for you. Failure to file your corporation’s...
Voted Top Lawyer for Boston Magazine
I was voted a Top Lawyer for Boston Magazine for 2023. "To compile our Top Lawyers list, Boston magazine, in partnership with DataJoe Research, invited lawyers representing our readership area (towns within, or partially within, I-495) to nominate up to three of their...
Annual Report Reminder
This article reminds you that you must file an annual report if you have a limited liability company or a corporation in Massachusetts (or any state). I did a blog post on this last year. While there is not a requirement to file on any particular date during the year,...
Do You Need An Attorney To Review An Offer To Buy A Business?
Reviewing the offer (or letter of intent) is a crucial step in selling your business, as an offer expresses the specific terms of the purchase. The buyer must communicate the terms they will enter into for the purchase. Then, the seller accepts the offer and the next...
How Do You Prevent The Corporate Veil From Being Pierced?
Piercing the corporate veil is when a court sets aside a business owner’s limited liability protection. This means that the protection that LLCs and corporations offer their owners is removed. Courts rarely pierce the veil unless some egregious misconduct occurs....
Does My Corporation Need A Board Of Directors?
The answer is yes. Under Massachusetts law (G.L. c. 156D, sec. 8.03), a corporation must have a director (or more, depending on the number of shareholders). The question then becomes, what does a director do? A board of directors is a group of people who oversee the...
Why You Need An Attorney To Review Your Commercial Lease
It is best to have an attorney review your commercial lease before you sign and to consult with an attorney when any significant event occurs, such as when you plan not to renew your lease. An option clause usually states that you must inform the landlord a certain...
LLC Members Need To Be Careful About The Language They Put Into Their Operating Agreement
When you form a limited liability company (“LLC”), one of the more essential parts is drafting the operating agreement. Even more important when there is more than one member. An operating agreement is the legal document that outlines the members’ rights,...