Eric CruzSeveral states have implemented minimum wage changes that were announced late in November, 2013, and will take effect on January 1, 2014. As employers prepare to complete their first payroll in 2014, it is important that they understand these changes. Florida has announced an hourly minimum wage increase. Effective January 1,
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Eric CruzMany small business owners take the correct first step – after coming up with their business idea, they form a corporation, limited liability company, or other business entity existing within the laws of their state, which they are then able to operate under. But many business owners stop at this first step and do not understand the concept of their corporation or company existing as a separate legal entity or “person” that exists on its own,
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Eric CruzOne of the most common mistakes made by small business owners is not forming a separate legal entity at all, and operating as a sole proprietor. A sole proprietor is a person who is running a business under their own name or a fictitious name, but without incorporating or forming a separate legal entity to operate the business.
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Eric CruzSCAM ALERT: If you own a business in Florida, you may have received or will receive shortly a deceptively misleading but official looking letter in the mail asking you to fill out and return in the enclosed postage pre-paid envelope an official looking form along with payment in order to obtain your revised Florida and Federal Labor Law Notice posters.
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Eric CruzSCAM ALERT: If you own a business thru a corporation or LLC you may have received or will receive shortly a deceptively misleading form in the mail asking you to fill out and return to the address listed therein an official looking form along with a fee of $125.00. The form is intended to trick you into believing it is from the Florida Department of State.
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Eric CruzSeveral states have implemented minimum wage changes that were announced late in November, 2012, and will take effect on January 1, 2013. As employers prepare to complete their first payroll in 2013, it is important that they understand these changes. Florida has announced an hourly minimum wage increase. Effective January 1,
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One important pointer for new small business owners that is never stressed enough is the importance of clearly identifying your company as the party to all your company’s contracts. This is relevant at the opening and the end of each contract.
First, the contract should clearly identify the company as the contracting party.
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I previously wrote about the Florida Supreme Court’s decision in Olmstead v. Federal Trade Commission, in which the Court set forth detailed reasoning as to why a judgment debtor’s interest in a single-member LLC should be subject to levy in addition to the imposition of a charging order.
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All Florida business entities must file an annual report with the Division of Corporations by May 1st of each year. Late filings are subject to a late fee of $400.00 in addition to the regular filing fee, which is currently $150.00 for corporations and $138.75 for limited liability companies.
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A recent Florida Supreme Court ruling in the case Olmstead v. Federal Trade Commission, SC08-1009 (Fla. June 24, 2010), has significantly changed the asset protection afforded to single member limited liability companies under Florida law. Previously, a judgment creditor was limited by Fla. Stat. 608.433(4), which provided that a judgment creditor may charge the LLC membership interest of the debtor,
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