23Aug 2023 by bhandlaw
Why You Should Form Your LLC or Incorporate a New Business BEFORE 2024!

Why You Should Form Your LLC or Incorporate a New Business BEFORE 2024!

Business Formation, Corporations, Limited Liability Company
Are you considering starting a new business or forming a new LLC or incorporating in the near future? If so, you should really consider getting it done before the end of 2023. The Federal Corporate Transparency Act (“CTA”) is here, and it carries both civil and even criminal penalties for non-compliance. https://youtu.be/o4X8gYOCYdI Introduction, Caveat Stuff In this article, I’m going to give you a super high-altitude overview of the CTA and why I think it’s important to at least consider forming your new business, corporation, LLC or other legal entity as soon as possible before January 1, 2024. As always, this article is strictly for entertainment and educational purposes only and is NOT legal advice. Always consult with your own lawyer to discuss your given facts and legal situation. This…
Read More
13Jul 2022 by bhandlaw
Taco Truck Beef Serves Up Tasty Legal Lessons to Business Owners

Taco Truck Beef Serves Up Tasty Legal Lessons to Business Owners

Business Formation, Trade Names, Trademark
Like so many of us who live in the desert Southwest, I loves me some tacos. We are definitely blessed to have some of the best in the nation. However, a business that recently contacted me from, let’s just say Tucson, highlights the importance of small businesses taking their legal structure and brand name seriously. Failure to do so could set your business up for a serious case of indigestion, legally speaking. Background The business in question was a local restaurant that also operated a popular taco truck, which we'll call "XYZ Killer Tacos". When I asked the owner what kind of legal structure he was operating the business through, his answer was sole proprietor. Ugh. Sole proprietor. In the business of serving food. To the public. (yikes) Nonetheless, his…
Read More
23Feb 2022 by bhandlaw
Yes, Your Startup Needs to Have Its Own Insurance. Here’s Why.

Yes, Your Startup Needs to Have Its Own Insurance. Here’s Why.

Business Formation, Corporations, Insurance, Limited Liability Company
Rarely a month goes by that a new founder or business owner I’m meeting with asks me some version of the following: “But we already formed a corporation (or LLC), why do we need liability insurance?” or “Aren’t my personal assets protected as it is [by the legal formation of the company]?” In this blog post, I’ll try an answer those questions, explain the specific types of insurance that a new startup should consider, and how to get started. Doesn't legal formation of my business protect my personal assets? Well, yes and no. First off, let me be absolutely clear-- operating any business under a validly formed legal entity is one of the first things you should be doing as an entrepreneur who’s about to actually market and sell goods…
Read More
27Jan 2021 by bhandlaw
Using Your Home Address as Known Place of Business in Arizona

Using Your Home Address as Known Place of Business in Arizona

Business Formation, Corporations, Entity Formation
Startup founders who have just launched their business are usually focused squarely on developing their MVP and are not quite at the point where they need office space or want to take on the expense of an actual lease. These business owners will frequently ask our Phoenix startup law practice if they can use a home address (usually that of the company owner or a shareholder) as the known place of business for their Arizona corporation? First of all, the usual caveats. This post deals strictly with Arizona law and requirements. You should always examine the applicable law of your state of formation or consult an attorney practicing there. For purposes of this article, we also are focusing on Arizona domestic corporations. Now, let’s take a look at what Arizona…
Read More
09Jan 2020 by bhandlaw
Do I Need to Register My Out-of-State Corporation in Arizona?

Do I Need to Register My Out-of-State Corporation in Arizona?

Business Formation, Corporations, Entity Formation, Foreign Corporation
If you're an Arizona startup that is actually incorporated in another state (e.g., Delaware), chances are by now you've heard that you may have to register to do business here in the State, even though you are already incorporated in a different state. In this post, we examine whether and when you must register your out-of-state corporation in Arizona. Operating in Arizona but incorporated elsewhere? This question is far more common than it might seem in our Phoenix startup law practice. For example, earlier this month I met with representatives of a middleware outfit that had originally formed as a corporation in a state back East. However, their U.S., Canada, and Mexico operations had just recently relocated to the metro Phoenix area. During our meeting, I asked if they had…
Read More