Legal Question in Business Law in Maryland

Re: Business activities limited for LLC?

Best to keep the purposes to ones that are directly related to your main purpose and add a clause that the corporation may conduct any other business that is no precluded by law.

Note that "S" is not a type of corporation per se, but is a status with the IRS that lets you pass losses (and profits) to the shareholders

Re: Business activities limited for LLC?

The actual business activity lines are usually listed upon formation of a Limited Liability Company in MD and, in addition, a general provision for engaging in all other lawful activities. Typically a business model/business plan is prepared at the same time or is in existence before the business entity is formed.

A business plan/business model is essential for the success of a newly-formed business.

A number of legal, tax, and financial variables need to be carefully evaluated to properly assess the legal/tax options and the most appropriate business formation strategy available under Federal and MD law. An experienced business and tax attorney should be able to handle this type of matter and to protect the interests of the client. Please note that my legal services are available only with a signed engagement agreement in accordance with the MD Code of Professional Ethics applicable to attorneys licensed in Maryland. If I can be of any help to you or people you know, contact me as I would be pleased to provide legal and tax support. Sincerely, Robert Beatson II, 9-16-2003, 6:10 p.m. EST Law Offices of Robert Beatson, II 9818 Glynshire Way, Potomac, MD 20854 Tel/Fax 301-340-2951 email: [email protected] website: www.beatsonlaw.com Practice areas: Tax, business law, computer/high tech/biotech law, intellectual property, trusts/estates/wills, real estate. Licensed to practice law in: DC, MD, VA, and NY.

Re: Business activities limited for LLC?

There are advantages and disadvantages to listing the overly used "any other business activity" in the articles. Such langauge can be used with an LLC. The main issue to address is liability and taxes. Consult an attorney for assistance with the many matters relating to business formation. My fees are reasonable.