Questions of the Week: January 20, 2013By
“What is a Registered Agent? Am I required to have one?” asks John T. from Maryland
The registered agent is a statutory office required by law in all states and it serves as the point of contact between the secretary of state and the corporation. If the corporation has any legal business with a private or government entity, the registered agent receives service of process. Failure to maintain a registered agent nullifies a corporation’s good standing.
To learn more about registered agents and watch our video please visit here!
“I am considering purchasing a franchise of Five Guys. Should I incorporate it?” asks Nick from Florida
Most franchise providers prefer to have their franchisees incorporate a new business to represent the franchise, even before the franchisee signs the franchise agreement. Franchisors often prefer to sign contracts with established companies, rather than sole proprietors – and good franchisors will often encourage franchisees to incorporate as a way to reduce the franchisee’s liability and bolster the credibility of the larger franchise company.
You can find out more about incorporating your franchise here!
“I’ve just gone from years of working in a corporate setting to working as an Independent Contractor, what is the best legal structure for me to operate through?” asks Mark from California
Many Independent Contractors choose to incorporate for a variety of tax benefits for both the contractor and the employer. One of the many benefits is that an incorporated business can operate very easily out of the Independent Contractor’s personal residence. This allows for many business reductions to reduce the individual’s payable income taxes. To learn more about choosing a legal structure as an independent contractor, watch the video and view the accompanying article here.