This year, Pennsylvania retired its decennial report requirement and now requires many business entities to file annual reports. Going from reporting every ten years to every year is a result of the 2022 Act 122, which Governor Tom Wolf signed into law on November...
It has been a rough few years for businesses across the country, but especially so for small businesses. From inflation to tariffs, companies of all sizes have had to close some or many of their locations. Whether you’ve had to close down entirely or shutter...
What Is Piercing the Corporate Veil? A corporate veil, the legal shield of separation between a business and its owners, helps to protect individuals from being held personally liable for their company’s debts and legal disputes. Businesses formed as a Limited...
The entrepreneurs you read about or see on TV may seem like overnight successes—but in reality, creating your own business doesn’t happen overnight. Behind every successful business idea, months (or even years) of thought and planning have gone into launching it....
Hiring the right people requires a sure-fire interviewing process. To effectively interview job candidates, you need more than a little dedicated time and a list of questions; you need an understanding of how you can draw out the information you need about an...
All businesses, of any size, that hire employees must manage payroll. It’s a responsibility not to be taken lightly! Careful attention to accuracy and compliance with federal, state, and local laws for withholdings and deductions is imperative to avoid mistakes and...
Is it better to form a Limited Liability Company (LLC) or a C Corporation? Many entrepreneurs ask that question as they work through the many facets of transforming their dream of business ownership into a reality. The business structures have similarities and...
Congratulations! You have officially registered your Limited Liability Company or Corporation with the state. But now what? What happens next? While forming an LLC or Corporation is a critical first step to operating a formal business entity, there’s more...
Ownership of Limited Liability Companies (LLCs) changes frequently for a variety of reasons. If you have a multi-member LLC, which has two or more members, and are looking to convert it to a single-member LLC, you’ll need to understand how the process works and...
If you’re considering a Limited Liability Company (LLC) or Partnership as your company’s business structure, you’ll have many considerations to think about. Choosing a business entity type has ramifications legally, administratively, and financially—all of which...
If you’re looking to start a cleaning business, there’s plenty of opportunities to go around. In fact, the role of professional cleaning specialist is slated to be the fastest growing occupation for the next ten years. Whether you plan to buy an...
After a business is up and running, it’s critical to maintain it by fulfilling all of the required business compliance tasks on time. Of course, businesses grow and evolve over time, and therefore, the actions they must take to maintain a business entity also...
Once entrepreneurs taste what it’s like to be their own boss and carve their own career path, some decide to pursue starting multiple businesses. Depending on the situation, owning multiple Limited Liability Companies (LLCs) might make sense. Which leads to...
A profit share agreement, sometimes called a profit share contract, is an important legal contract between two or more parties, such as individual business partners, businesses, employers and employees, or investors and entrepreneurs. A profit share agreement is...
If you own multiple businesses, you might be wondering if it is safe to operate them under the same LLC. Although it’s possible, this approach has a potentially significant downside. If someone sues one business, not only will that business’s assets be at risk but...
So you’ve decided to start a business in construction. Congrats! Despite the ebbs and flows of the real estate industry, there will always be work for you. While you may have the basics of your business, such as who to hire and what to call your company, here...
If you have your sights set on incorporating your business, you may be wondering if a C Corporation or S Corporation is the better option. While both are popular choices, nuances exist that may make one or the other more advantageous for your situation. The...
Besides the questions of when and how to start a company, many entrepreneurs want to know where to incorporate a business. Each state has its own business laws and tax codes, so deciding where to form an LLC or a corporation should not be taken lightly. I recently...
If you’re considering retiring, looking for a new venture, or bringing a partner into your business, you may be wondering about the process of transferring business ownership. There are various ways to sell part or all of a business, and regulations you’ll need to...
Hiring remote workers as part of your team comes with a lot of advantages for both employers and employees. Employers who hire remote workers get access to a much larger pool of qualified employees than those who require in-person work. Instead of attracting...
Yes, it is possible to set up a Limited Liability Company (LLC) in another state, and there are two possible scenarios for doing so: Form an LLC in a state different from where the business owner lives and works. Register an existing LLC formed in one state to...
The Series LLC is also known as a Series Limited Liability Company or SLLC for short. It allows multiple Limited Liability Companies (LLCs) within a master LLC to operate as separate entities with their own names, bank accounts, and record keeping. Each series can...
CorpNet is proud to announce that it has made Inc.’s prestigious Inc. Regionals Pacific list in 2025 as one of the fastest-growing private companies in the country. This is the fourth year CorpNet has been honored in the regional awards. CorpNet’s Inc....
A lot of entrepreneurs wonder what state should be used to incorporate a new business. Should it be their own state or maybe another state like Delaware or Nevada? There is no easy answer to that question, however, there are definite benefits for some businesses to...
There are a whole host of reasons to incorporate as a C Corporation and it is the preferred entity type if you intend on seeking VC funding or taking the company public. However, forming a C Corporation involves more paperwork, legal fine print, and potential...
The United States an ideal location for foreigners to start a business and capture that elusive American dream pushed so hard by the media and social media. It’s no wonder many international entrepreneurs dream about starting a business in the USA. Nonresidents can...
The short answer is, yes, you can operate multiple businesses under one LLC. However, before you jump in, you have multiple options to consider. The route you choose can impact you in several ways (including your liability and tax obligations), so it’s...
Today’s business owners have more options for business financing than ever before.  But some methods to finance your business may cause you to toss and turn at night more than others. Of course, stress can be subjective. One person’s definition of stress may be...
It is legal to use your home address for your LLC, C Corporation, or other business entity. You do need a physical address to register a business, but many sole proprietors and various types of professional services businesses don’t have a separate business...
In a press release issued late in the day on March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced an “interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to...
