What is a Nonprofit?

A nonprofit organization is created to fulfill a charitable, civic, religious, scientific, literary, or educational goal. Nonprofits do not have private owners, nor do they issue stock or pay dividends to shareholders. Aside from founders or staff being compensated a fair wage for their work in a nonprofit, the organization may not benefit individual stakeholders financially.

There are 35 types of nonprofits recognized by the United States federal tax code. Some nonprofits are either fully or partially tax-exempt, meaning they do not have to pay certain taxes. Also, some types […]

With all the decisions your clients are expected to make when starting a business, which legal structure to choose might not get as much consideration as it should. Most business owners choose to form a sole proprietorship in the beginning, since it’s less paperwork and less costly; many switch entities as their business grows to benefit from the protections provided by a Limited Liability Company (LLC) or C Corporation. But an LLC or C Corp can also choose to elect S Corp status. If your clients come to you with questions about […]

If you have been considering starting an eCommerce business, you’re exploring an industry with a promising outlook. According to Statista, the number of online shoppers in the United States is expected to reach 230.5 million in 2021.¹ However, like starting any business successfully, discovering how to start an eCommerce business requires research, planning, and hard work.

Wondering where to begin when starting an eCommerce business? CorpNet is here to help! Let’s explore some of the primary considerations you’ll need to think about and then walk through the general legal steps for how to […]

In the course of running your business, you’ve probably encountered more legal fine print and formalities than you ever thought possible. In this post, we’ll break down the Doing Business As (DBA) to see if your business needs one.