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Showing posts from March, 2018

Why is a well written Limited Liability Company Operating Agreement so important?

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You filed a certificate of formation if you’re a New Jersey Limited Liability Company (“LLC”), you got a tax identification number, and many people think they are ready to do business. The reality is that you just missed the most important step if you don’t have a well written Limited Liability Company Operating Agreement.

      You can decide to use one of the free Operating Agreements that comes in your Company Kit, provided by your incorporation agent or it can be prepared by someone without intimate knowledge of New Jersey’s New Revised Uniform Limited Liability Company Act. However, these are not wise options, as you would be putting the fate of your company into a document that most likely is a generic form for any LLC (possibly not specific to any state) and it would not consider the unique issues presented by your company or the intricacies of New Jersey’s Revised Uniform Limited Liability Company Act.

      Remember that every company is unique. Every company’s owners…

How do I get certified to be a Woman Owned Business in New York?

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To get certified to be a State of New York Woman Owned Business, you must complete a separate application for the State of New York. This is independent of any certification you may have from any other State or Federal Government. By being a certified New York Woman Owned Business, this will qualify your Company for various contracts which our set aside by the State of New York, and you will receive a great advantage when applying for New York State contracts.
               Under New York Law the Definition of a Woman-Owned Business Enterprise (WBE) is a business enterprise in which at least fifty-one percent (51%) of the business is owned, operated and controlled by citizens or permanent resident aliens who are women.
               In general, to qualify for New York State certification as a women-owned business enterprise (WBE), a Company must successfully demonstrate the following through the production of relevant documentation:
Ownership, Operation and Control …