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Removing an LLC Member

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The easiest way change the LLC structure is to have the leaving members consent to terminate their status as members, then amend or draft a new LLC Operating Agreement deleting their names. You should review the filings with the secretary of state to make sure none of the removed partners signed any. If they did, […]

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How Multiple People Can Hold Title in the Same Property in Maryland

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There are three major types of concurrent ownership in Maryland that can be written into a deed: Tenants in Common each own a share of the property as an individual with no right of survivorship. Therefore, if one co-tenant dies, his interest passes to his own heirs, not the other co-tenants. In this type of […]

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Questions to Consider When Writing an LLC Operating Agreement

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Here are some questions to consider before starting your LLC and forming your Operating Agreement. Start Up: How much money is each member contributing to starting the business? Will someone contribute more? What if you need more money? Will you open the doors to outside investment? Will the members contribute more money? What is each […]

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How Do I Form an LLC in Maryland?

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To form an LLC in Maryland your attorney should first file Articles of Organization and a $120 filing fee by mail, or on-line, with the Maryland Department of Assessments and Taxation. The Articles of Organization must include the following information: 1) LLC name and address; 2) Purpose of LLC; 3) Registered agent’s name, address and […]

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What is an LLC?

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An LLC, which stands for Limited Liability Company, is a type of business entity that offers limited liability protection for its ownership and management. They are a type of business entity designed by the states to combine the limited liability protection offered by a corporation, with the “pass-through” single tax status offered by a partnership. […]

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What is the Difference Between an LLC and an S-Corp?

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Although S Corporations and LLCs share similar characteristics – both provided limited liability protection to ownership and management, and both are taxed by the “pass through” system like partnerships –LLCs are more flexible and have fewer restrictions than S Corps. The first major difference is that an S Corporation’s size and ownership composition are limited […]

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What Clauses to Include in an LLC Operating Agreement?

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There are several important clauses that an LLC Operating Agreement needs. If you are considering having an operating agreement created for your LLC, be sure to consider these clauses and discuss them with your attorney: Equity structure – how much each partner is putting into the new business, and what their economic and management interest […]

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Birth Injuries and Your Legal Rights

Having a birth injury occur during you or your loved one’s hospital birth can be a stressful and confusing experience. However, as I state on MarcianoLegal.com under particular circumstances, some birth tragedies are preventable and you have a legal right to pursue action if you feel that another party was at fault regarding the injury. […]

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Why is Limited Liability Important?

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John and his wife, Mary, own a flower delivery business. They’re equal partners, sharing decision making and other responsibilities 50/50. They own a small building downtown for their shop, near the two-story townhouse they bought together, and in addition to the family sedan also own a delivery van with “John and Mary’s Flowers” written in […]

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What is an S-Corporation?

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An S-Corporation (S-Corp) is one of two types of corporations defined by subchapter of the tax code they are governed by. Like more common C-Corporations (C-Corp), or publicly-traded corporations, S-Corps provide limited liability to management and shareholders, protecting the personal assets of those who would otherwise face personal liability in case of a creditor’s claim. […]

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