New York LLC Transparency Act: Key Owner Reporting Requirements
Beginning January 1, 2026, New York LLCs must report beneficial ownership information under the NY LLC Transparency Act. Most LLCs will be affected, facing fines up to $500 per day for noncompliance. Business owners should identify beneficial owners, review exemptions, and stay updated on regulations to ensure compliance.
Read MoreHidden Fees in an Asset Purchase: A Guide for New York and New Jersey Business Owners
Buying or selling a business in New York or New Jersey? Hidden fees and closing costs can derail your deal. From lease assignment fees to inventory adjustments, learn what expenses to expect and how to negotiate them in your asset purchase agreement to avoid costly surprises.
Read MoreWhat is My Business Worth? Selling in New York & New Jersey.
When New York or New Jersey business owners consider selling, they often question their business’s worth, influenced by factors like profitability and growth potential. Collaborating with business brokers, accountants, and valuation experts aids in accurate assessments. Additionally, lawyers can enhance value by reviewing and improving contracts, ensuring greater buyer confidence and market appeal.
Read MoreThe Professionals You Need When Starting or Buying a Business in New York or New Jersey
Starting a business requires more than a good idea; it hinges on building the right team. Key advisors, such as corporate lawyers, IP lawyers, accountants, insurance brokers, and employment lawyers, are vital for ensuring proper planning and execution. Their guidance helps prevent costly mistakes and increases the likelihood of long-term success.
Read MoreSelling a Business? What to Know About NDAs
When selling a business, confidentiality is crucial, often necessitating a nondisclosure agreement (NDA). An NDA protects sensitive information, deters bad-faith inquiries, and establishes clear rules for information sharing. In New Jersey and New York, deals typically start with an NDA, ensuring trust and protecting business value during negotiations.
Read MoreBuying a Business in NY or NJ? What You Need to Know About the Bulk Sales Law
When buying a business in New York or New Jersey, don’t overlook the bulk sales law. Filing the required notice 10 days before closing protects buyers from a seller’s unpaid taxes and prevents costly surprises. Learn how this process safeguards buyers in asset purchases.
Read MoreResolving Business Valuation Disputes in New York and New Jersey
Valuation disputes are one of the biggest obstacles in a New York or New Jersey business divorce. Clear buyout provisions in shareholder and operating agreements help partners avoid costly litigation, protect fairness, and ensure smoother resolutions when it’s time for one owner to exit the business.
Read MoreRegulatory Whiplash! CTA Reporting Back On… Again.
The Corporate Transparency Act (CTA) is back in effect—again. A court ruling has lifted the injunction, meaning businesses must resume beneficial ownership reporting. Most have until March 21, 2025, to comply. Stay updated on the latest changes and what this means for your company by contacting a New York corporate lawyer New Jersey business lawyer.
Read MoreGuess Who’s Back? Businesses Must Resume Reporting Beneficial Ownership to FinCEN.
Businesses: A federal court has paused the Corporate Transparency Act’s beneficial ownership reporting requirements. Learn what this means for your compliance obligations and how to stay informed from this New Jersey business lawyer New York business lawyer blog post.
Read MoreRegulatory Whiplash. Corporate Transparency Act (CTA) Reporting Is Back On. Again.
Businesses: A federal court has paused the Corporate Transparency Act’s beneficial ownership reporting requirements. Learn what this means for your compliance obligations and how to stay informed from this New Jersey business lawyer New York business lawyer blog post.
Read MoreNavigating Delaware LLC Amendments: A Practical Approach for Business Owners
Businesses of all sizes in Delaware should consider amending their LLC’s formation documents to adapt to changes and ensure compliance. Ownership, management, growth, regulatory, and logistical changes are common reasons for amendments. Review, drafting, approval, filing, updating records, and communication are crucial steps in the amendment process, facilitated by a New York New Jersey business lawyer.
Read MoreHow to Comply with The Corporate Transparency Act
In this New York Business Lawyer, New Jersey Business Lawyer blog post, Russo Law LLC discusses the newly enacted Corporate Transparency Act and what businesses, investors, shareholders, and officers and directors need to do to comply with it in 2024.
Read MoreCelebrating Excellence: Lou Russo Named 2023 Super Lawyer Once Again
Congratulations to Russo Law LLC founder, Lou Russo! He has been distinguished once again as a Super Lawyer by Super Lawyers 2023.
Read MoreNew Jersey’s Latest Credit Card Surcharge Law: What Business Owners Need to Know
In this New Jersey Business Lawyer blog post, Russo Law LLC discusses New Jersey’s recently enacted credit card surcharge law and what New Jersey Businesses must do now to comply with it and avoid significant penalties.
Read MoreCrafting a Strong Master Services Agreement: Key Protections for Success
In this New York Business Lawyer, New Jersey Business Lawyer blog post, Russo Law LLC founder and business lawyer Lou Russo describes the vital components that consultants and service providers should consider including in a Master Services Agreement to protect their interests and set the stage for prosperous client collaborations.
Read MoreBoost Your Business: Top Reasons to Start an LLC in New York or New Jersey
When it comes to selecting the right legal structure for your business in New York or New Jersey, the expertise of a business lawyer is invaluable. One option that offers numerous advantages, as confirmed by business lawyers regularly dealing with corporate law issue, is the Limited Liability Company (LLC).
In this article Russo Law LLC founder and business lawyer Lou Russo will explore five compelling reasons why to consider using an LLC to operate your business in New York or New Jersey regardless of whether for a startup or a small business.
Read MoreCrucial Factors for Successfully Concluding a Business Sale in New Jersey: Maximize Your Profit Now
Are you considering buying a business in New Jersey or selling a business in New Jersey? If so, there are many factors to consider, and the process can be quite complex. In this blog post, business lawyer Russo Law LLC will walk you through what to expect after signing a purchase agreement but before closing on the sale of a business in New Jersey. From due diligence to lease assignments to obtaining franchisor approval, the blog covers everything you need to know to ensure a successful transaction.
Read More5 Must-Have Provisions for Shareholder Agreements in New York and New Jersey
As a business owner in New York or New Jersey, a shareholder agreement is a crucial legal document that can protect your business and ensure that the shareholders’ rights are clearly defined. A shareholder agreement outlines the rights and obligations of each stock owner and can help to prevent disputes and conflicts down the line. This blog post discusses 5 crucial provisions of a shareholder agreement for a New York or New Jersey corporation.
Read MoreSecuring Your Business Secrets: 5 Steps to Take Before Signing an NDA
Before signing an NDA, you and your business lawyer should take these five steps to safeguard your interests while allowing you to maintain business operations and explore business opportunities.
Read MorePurchasing a Business in New York or New Jersey: Tips for Conducting Effective Due Diligence
Are you considering purchasing a business in New York or New Jersey? To make a smart investment, it’s important to conduct due diligence. In this blog post, New York and New Jersey business lawyer Lou Russo provides 5 tips for evaluating financial records, operations, employees, the market, and legal documents when buying a small business in New York. By following these tips, you can effectively evaluate the business and set yourself up for long-term success.
Read MoreThe AAA Revamps Its Arbitration and Mediation Rules
A brief business law blog post summarizing recent changes to the American Arbitration Association’s Commercial Rules and Mediation Procedures.
Authored by New York and New Jersey arbitration, mediation and business lawyer Lou Russo.
Read MoreDo I Need a DBA for My Business?
A brief business law blog post authored by New York and New Jersey business lawyer Russo Law LLC answering the frequently asked question “Do I Need a DBA for My Business?”
Read More5 Tips for Cutting Ties With a Business Partner
A brief business law blog post authored by New York and New Jersey business lawyer detailing 5 tips for any New York or New Jersey business owner asking themselves “How can I resolve my disputes with my business partner?”
Read MoreCorporate Shareholder Meetings In New York and New Jersey
A brief business law blog post authored by New York and New Jersey business lawyer detailing
some requirements for shareholder meetings for New York and New Jersey Corporations. This post is a good primer and frame of reference for all owners, shareholders and directors (boards of directors) of New York and New Jersey Corporations looking to ensure compliance with controlling corporate law in New York and New Jersey