What is a name reservation? If you are not yet ready to incorporate or form an LLC, partnership, or a corporation, but would like to reserve your business name for future use, you can choose to file a name reservation (costing $50 in Ohio). Filing a name reservation will prevent another company from forming in [...]
Posts Tagged ‘small business’Naming Your Business and Everything That Goes With ItThursday, May 6th, 2010Revisiting Your Choices: S Corporation or LLC in OhioWednesday, May 5th, 2010For many small business owners, choosing whether to form a Corporation or a Limited Liability Company (LLC) is one of the very first decisions to be made. In order to decide which choice is best for your small business, it is essential to understand the differences between a Corporation and an LLC. In this article, [...] The Ohio Supreme Court Reduces CSPA ProtectionsThursday, April 29th, 2010Due to an Ohio Supreme Court decision on a car sales case, the Ohio Consumer Sales Practices Act (CSPA) now offers consumers less protection. The CSPA, which was enacted to protect consumers from unfair, deceptive and unconscionable acts or practices by suppliers, has been narrowed by the Court so that a consumer can no longer [...] The Consumer Sales Practices Act PenaltiesTuesday, April 27th, 2010Suppliers who take actions that are unfair, deceitful, or unconscionable or who fail to comply with the deposit requirements of the CSPA may be subject to extensive penalties. A consumer who wins in an action against a supplier under the CSPA can choose from two remedies. First, the consumer can choose to undo the contract, [...] What is the Ohio Consumer Sales Practices Act ?Friday, April 23rd, 2010The Ohio Consumer Sales Practices Act (CSPA) protects consumers from unfair, deceptive and unconscionable acts or practices by suppliers. The Act specifies which business practices are legal or illegal, including what businesses can and cannot say in advertisements. It also describes what the Attorney General can do when businesses break the law. What qualifies as [...] New Tax Laws For Ohio Small BusinessesThursday, April 22nd, 2010With April 15 behind us, and the 2009 tax season over for most small business owners, it’s time for business owners to think about next year’s taxes – especially in light of the wide variety of new tax rules designed to benefit owners of businesses. There are three major new tax rules of which small [...] What You Need To Know About Starting A Small Business – Part 4: What is a Corporate Veil and How Can I Keep It From Being Pierced?Monday, April 19th, 2010Most companies choose to form a legal entity – whether a limited liability company, corporation, or otherwise – for the avoidance of personal liability to the shareholders or members. In other words, the personal assets of the company’s owner – including homes, cars, savings, and possessions – are not at risk for actions taken by the company [...] What You Need To Know About Starting A Small Business – Part 2: What is the Difference Between an LLC and a Corporation?Wednesday, April 14th, 2010The most common decision for small businesses is whether to form an LLC or a corporation. While both entities have many similarities, they also have several differences. Limited liability companies, as opposed to corporations, are a relatively new type of business entity that combine the personal liability protection of a corporation with the tax benefits [...] The Health Care Law and Small Businesses – Part 2: PenaltiesFriday, April 9th, 2010The new health insurance reform recently signed into law has both pros and cons for small businesses. Sorting out the pros from the cons is not a simple task. Although it isn’t immediately clear how some of the provisions will be implemented, there are many things about the Act’s implications for small businesses that are [...] |