Legal Question in Business Law in New York

Re: Business Commitment, the next step, an online business!

You should ideally sit down with both a tax professional and an attorney to determine your best course. You'll need to analyze different business organization forms (corporation, LLC, sole proprietor, etc.) in light of the company's capitalization and the risks to your existing assets. While your customers may be outside NYS you indicate that you are not and, accordingly, you'll have to abide by NYS' business laws (though if you have no employees besides yourself you will have few if any too egregious obligations in this regard). You can, of course, organize the business outside of NYS but if you are doing any significant business here (i.e. running your business here) you'll still come under the jurisdiction of the NYS laws.

If you'd like to discuss this further, please feel free to call the office or drop a line via e-mail.

JF

Re: Business Commitment, the next step, an online business!

I represent a number of Internet business. There are a variety of factors you need to consider. You will probably want to form a business entity in order to protect your personal assets. In order to determine your potential tax liability, the best type of business structure for you and the most appropriate state to be establishing your business I would require additional information. Please feel free to contact me if I can be of any assistance.