CT Expert Insights

Dissolution is not a topic many business owners like to think about, but if the time comes, it's important to know what to expect. In this edition, CT Corporation Account Manager Mike Enright explains the different types of dissolution and how to approach that decision as a corporation or an LLC. He also walks us through the formal steps of dissolution in most states and what information you'll need to complete the process.

For additional information and resources, please visit:

https://www.wolterskluwer.com/en/expert-insights/the-administrative-dissolution-and-reinstatement-of-business-entities

https://www.wolterskluwer.com/en/solutions/ct-corporation/business-entity-dissolution-or-withdrawal

Engineering firms must navigate a number of government regulations, and that includes obtaining a business license. CT Corporation's Hans Howk walks us through the regulatory environment for engineering businesses, what the process for getting a business license looks like, and the significant consequences for non-compliance.

For more information and resources:
https://www.wolterskluwer.com/en/expert-insights/business-license-pitfalls-for-architecture-and-engineering-companies

Before you start building your architecture business, make sure you have the proper licensing and other compliance in place. CT Corporation Content Management Associate Claire Corbin explains what you need to do to acquire your license, some of the rules you need to follow when naming your business, what the penalties are for non-licensure, and much more.

For additional information and resources:
https://www.wolterskluwer.com/en/expert-insights/architecture-firm-business-licensing-and-other-legal-requirements

In late September, the Financial Crimes Enforcement Network, or FinCEN, finally released specifics on how small businesses need to comply with a new reporting rule through the Corporate Transparency Act. CT Corporation Publications Attorney Sandra Feldman explains what information the government requires, which businesses are exempt, and when you need to have all of your information submitted.

For addition information, please visit:
https://www.wolterskluwer.com/en/expert-insights/fincen-issues-final-rule-implementing-the-reporting-requirements-of-the-corporate-transparency-act

In our most recent podcast, we walked through all the steps needed to select and establish a name for your corporation of LLC. But sometimes it becomes necessary to change the business name. CT Corporation Publications Attorney Sandra Feldman shares some reasons businesses seek a name change, steps to take before making a formal change, how to make it official, and what sort of compliance is required afterwards.

For additional information and resources, please visit: https://www.wolterskluwer.com/en/solutions/ct-corporation/business-naming

Naming your business involves a lot more than coming up with something your customers will remember. CT Corporation Manager of Customer Service Tim Jensen explains what the government will require from you in a business name, why you might not get to use your first choice, and what words you can and cannot use. He also explains how to reserve a name before your business opens and how to proceed if you do business in multiple states.

For additional information and resources: https://www.wolterskluwer.com/en/expert-insights/entity-naming-requirements-for-corporations-llcs

At the beginning of August, Delaware law changed to offer more liability protections for corporation officials when there's been a breach of duties. With so many businesses formally registered in Delaware, this will have an impact throughout the country. CT Corporation Publications Attorney Sandra Feldman explains what exactly has changed, the impact the change is likely to have, and what business owners need to do to comply with the updated law.

For additional information and resources: https://www.wolterskluwer.com/en/expert-insights/delaware-corporations-can-now-limit-the-liability-of-senior-officers

Choosing the right entity for your business is one of the most important decisions a business owner makes. In this edition, we focus on corporations. Should you establish your business as a corporation? And if you do, is it better for your business to be taxed as a C Corporation or an S Corporation? CT Corporation Publications Attorney Sandra Feldman explains what characteristics you need to qualify as a corporation and walks us through the tax advantages and disadvantages of filing as a C Corp or an S Corp.

Third party logistics providers, or 3PL's, must meet strict compliance requirements, particularly those doing business in the pharmaceutical industry. In this edition, Wolters Kluwer Manager of Content Management Hans Howk explains what the licensing requirements are for 3PL's and which government agencies will be making sure you are in compliance. He also explains the penalties for licensure non-compliance and how CT Corporation can help you navigate all the complexities that come with this designation.

For additional resources, please visit:
https://www.wolterskluwer.com/en/expert-insights/third-party-logistics-provider-licensing-requirements

Business identity theft is growing quickly but protecting yourself before someone tries to attack you, and knowing what to do if they succeed, can save you a lot of money and stress. Andrew La Marca, director of fraud and compliance at Dun & Bradstreet, tells us how bad actors target businesses, how to stay vigilant for these attacks, and what to do if your business is victimized.

For additional resources, please visit:
https://www.wolterskluwer.com/en/expert-insights/the-rising-risk-of-business-identity-theft

DIYMarketers.com Publisher Ivana Taylor shares her "winflation" mindset that she encourages all business owners to have during this time of inflation. Instead of focusing solely on cutting costs and raising prices, Taylor urges us to listen for other ways our customers wish we could help them and come up with enticing incentives for them to do more business with us. Taylor also highlights the value of finding ways to collaborate with other businesses and following up with existing and prospective customers to meet their needs.

For additional information and resources, please visit: https://www.wolterskluwer.com/en/solutions/ct-corporation/legal-solutions-small-business

Entrepreneur and speaker Ramon Ray joins us to discuss how employers can attract and keep the best talent at a time when so many businesses are badly understaffed. He also outlines some best practices to make telework good for your productivity and for employee morale. Finally, Ray offers some helpful hints on how to make yourself the best advertisement for your business.

Business licensing can get complicated for insurance businesses, so knowing how to stay compliant is critical. In this edition of "Expert Insights," CT Corporation's Coby Ringgenberg takes us through the importance of insurance firms being properly licensed, the consequences of non-compliance, and how to start and complete the licensing process.

For additional resources, please visit:
https://www.wolterskluwer.com/en/solutions/ct-corporation/business-license-solutions

Durable medial equipment (DME) providers are among the most heavily-regulated businesses in the nation. Why is that and what do DME business owners need to know about getting licensed, and meeting state and federal requirements for operation? CT Corporation Manager of Content Management Hans Howk walks us through the critical steps of compliance and how to stay in good standing over the long haul.

For additional resources on this topic, please visit: https://www.wolterskluwer.com/en/expert-insights/durable-medical-equipment-licensing-requirements

The government will soon be imposing a new beneficial ownership reporting rule as part of the Corporate Transparency Act, which was passed by Congress last year. CT Corporation Publications Attorney Sandra Feldman explains which entities will need to comply with the new rule, what potential exemptions exist, and what information the government is going to want in these reports.

For additional resources: https://www.wolterskluwer.com/en/expert-insights/cta-reporting-requirements-what-companies-and-law-firms-should-do-to-prepare

Small business expert Gene Marks offers business owners timely advice on how to handle inflation, supply challenges, and labor shortages in the new year. Marks also offers encouraging news on the affordability of AI tools that improve efficiency and will improve the bottom line. And he gives business owners a tip on how to get funds from the Small Business Administration at a good interest rate...but you need to act within the next couple of weeks.

Since the start of the pandemic, Special Purpose Acquisition Companies, or SPAC's, have exploded in popularity for businesses and celebrity influencers. But what exactly is a SPAC? What advantages does it have compared to a more traditional initial public offering? What risks should you know about? And how could it impact your business? We get answers to these questions and more with CT Corporation Senior Director Amit Rajvanshy.

For additional resources:
https://www.wolterskluwer.com/en/expert-insights/the-rise-of-the-spac

Choosing the right entity is one of the most important decisions a business owner can make, and an entity that will protect you from having to pay corporate taxes on top of personal income taxes can be very attractive. It's known as an S Corporation. CT Corporation Manager of Customer Service Tim Jensen explains what it takes to be eligible to file as an S Corporation, how this entity differs from other entity types, and what the ongoing compliance requirements look like.

For additional information and resources, please visit:
https://www.wolterskluwer.com/en/expert-insights/s-corporations-offer-advantages-and-disadvantages

Could a holding company be the key to making sure your business survives tough stretches and unexpected interruptions like a pandemic? CT Corporation Publications Attorney Sandra Feldman explains what holding companies and operating companies are and walks us through the major benefits and possible drawbacks of choosing this kind of business structure.

For additional information and resources, please visit:
https://www.wolterskluwer.com/en/expert-insights/using-a-holding-company-operating-company-structure-to-help-mitigate-risk

https://www.wolterskluwer.com/en/expert-insights/getting-grip-holding-companies

One of the first critical decisions for any aspiring business owner is determining the right business formation or incorporation for you. But why is it important? What are the different options for incorporation and what should be the most important factors in choosing one? We discuss all of this and the incorporation process with CT Corporation Customer Service Manager Tim Jensen.

For additional information on business formations, please visit https://www.wolterskluwer.com/en/solutions/ct-corporation/business-formation-solutions