Kiritsis & Associates
Kiritsis & Associates
By John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
Kiritsis Law Group
212 922 0005
LLCs are often used by small businesses, real estate investors, and professional service providers. LLCs can be used to hold real estate or other assets, which can provide additional protection against personal liability. LLCs can be owned by a single member, known as a single-member LLC. Single-member LLCs are typically taxed as sole proprietorships, unless they elect to be taxed as a corporation. LLCs can have multiple classes of membership interests, which can be useful in structuring ownership and management arrangements. LLCs can be dissolved voluntarily by the members, or involuntarily by the state or a court. LLCs are subject to state laws regarding securities, which can affect how the company can raise capital and sell ownership interests.
Section 102 of Chapter 34 Article 1 of the New York Limited Liability Company Law provides the general provisions regarding the formation of LLCs in New York. This includes requirements for the name of the LLC, the contents of the articles of organization, the filing procedures for the articles, and the role of the New York Secretary of State in accepting and processing the articles. The section also covers the effect of filing the articles, including the creation of the LLC as a legal entity and its ability to conduct business in New York.
Sources:
Universal Athletic Sales Co. v. American Gym Recreational Equipment Corp., 546 F.2d 530 (3d Cir. 1976) (USA)
Vernon v. Schuster, 179 A.D.2d 1088 (N.Y. App. Div. 1992) (USA)
Sea-Land Service, Inc. v. Pepper Source, 941 F.2d 519 (7th Cir. 1991) (USA)
Pereira v. United States, 347 U.S. 1 (1954) (USA)
St. Paul Fire & Marine Ins. Co. v. Pietrangelo, 677 F. Supp. 742 (D.N.J. 1988) (USA)
VTB Capital plc v. Nutritek International Corp., 2013 WL 788649 (2d Cir. Mar. 5, 2013) (USA)
Leasco Data Processing Equipment Corp. v. Maxwell, 468 F.2d 1326 (2d Cir. 1972) (USA)
In re Refco, Inc. Securities Litigation, 503 F. Supp. 2d 611 (S.D.N.Y. 2007) (USA)
Gertz v. Fitchburg Gas & Elec. Light Co., 23 N.E.2d 862 (Mass. 1939) (USA)
Fletcher v. Atex, Inc., 68 F.3d 1451 (2d Cir. 1995) (USA)
United States v. Jon-T Chemicals, Inc., 768 F.2d 686 (5th Cir. 1985) (USA)
New York Business Corporation Law
New York Limited Liability Company
New York General Obligations Law
NYS Office of Professions
U.S. Constitution
Whether you are a new business startup or a well-established company, our law firm can help you with all of your business law legal needs. For a free consultation, you can call us at 212 922 0005.
Law Offices of Kiritsis & Associates
Phone 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Suite 1306
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
1st Floor
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
2nd Floor
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