Blumberg now offers S corporation IRS filings for New Jersey corporations

New Jersey S CorporationBlumbergExcelsior Corporate Services, Inc. is now offering to file S-corporation status filings for corporations formed in the state of New Jersey.  Previously, Blumberg only offered this service for corporations formed in the state of New York.

Corporations can opt for subsection “S” status treatment by the IRS after formation if they meet certain IRS requirements.

To find out more, contact a Blumberg corporate services rep today! Continue reading “Blumberg now offers S corporation IRS filings for New Jersey corporations”

In Which State Should You Organize Your Business?

In Which State Should You Organize Your Business?

Companies which own or lease real estate, employ people, conduct business and/or generate income in a state are considered to be “doing business” in that state. A small business that is “doing business” in only one state should, in most cases, organize in that state. If, however, you are contemplating doing business in more than one state, the decision about where to organize your business gains importance. Continue reading “In Which State Should You Organize Your Business?”

How to Form a Not-for-Profit Corporation

Not-for-Profit Corporations are formed for many reasons.  In New York State there are two types of formations: charitable and non-charitable.  New York now allows for filings of each with a purpose as simple as:  any purpose for which corporations may be organized under the Not-for-Profit Corporation Law as a charitable corporation or any purpose for which corporations may be organized under the Not-for-Profit Corporation Law as a non-charitable corporation. Continue reading “How to Form a Not-for-Profit Corporation”

What is a fictitious name (a DBA)?

If you are starting a business as a sole proprietor or partnership you must file a document with the city, county or state as required by the laws of the state in which your business will be conducted. The name you choose for the business is a “fictitious name.”  It is also called a “DBA” (doing business as). The laws are intended to protect those doing business with the company by providing a public record of the owner’s identity and the  address of the business.

Continue reading “What is a fictitious name (a DBA)?”

Corporation or LLC?

Should Your New Business be a Corporation or LLC

If you are conducting or starting up a business as a sole proprietor or a partnership, there are significant advantages to operating as a Corporation or LLC. One key advantage is that personal liability for the losses, debts or court judgments can be avoided, provided you respect the formalities required by the laws of the state in which the Corporation or LLC is formed. Continue reading “Corporation or LLC?”

Where should I file my LLC or corporation?

What State Should I file In?
What state should I file in?

Conventional wisdom has it that filing LLCs and corporations in certain foreign states is preferred because the laws are more friendly or annual franchise taxes are lower.

This is a trap for the unwary. If you are going to actively engage in business in the state where the business resides seek professional advice about what jurisdiction is best for your purposes. Otherwise, it could be very expensive in the long run and even dangerous. Continue reading “Where should I file my LLC or corporation?”