Maybe it started with a spark of an idea for a new product. Or, maybe you believed you could offer the public a valuable service. In either case, many people in St. Paul decide to form a business of their own. While this is a worthwhile endeavor, it is important to make sure you make legally sound decisions from the get-go, so that problems can be avoided down the road.
For some people, it is a spark of inspiration for a new product or service that makes them decide to start a small business. For others, it is the desire to turn a hobby into a lucrative profession. And, for some, the idea of being their own boss fuels the decision to establish their own small business. Whatever the reason, when a person in Minnesota decides to start a business, there are a number of business entities they can choose from.
Many people in Saint Paul have a moment of brilliance, in which they come up with a great idea for a business. While they may be excited to make their dreams a reality, business planning should be done with care. After all, improper planning could lead to liability issues, unwanted tax consequences and expensive litigation.
Important legal changes may affect your Minnesota limited liability company ("LLC"), beginning January 1, 2018. These changes could impact the internal operations of your LLC and the governance rules and rights associated with your LLC ownership.
Is there anyone in the Twin Cities who doesn't remember the fiasco at the Academy Awards in February? We doubt it. Warren Beatty and Faye Dunaway were there to present the award for best picture. They announced "La La Land" won. Except, it didn't, "Moonlight" did. The red faces of nearly everyone on stage must have made it look as if the color balance on TV screens was out of whack.