Employers may be paying closer attention to how they classify workers in light of new state statutes that are being adopted in many areas of the country. Business owners who misclassify employees as independent contractors may now be subject to harsher penalties, according to the Washington Post. Independent contractors are typically workers who operate their… Continue Reading
Category Archives: Business Classification
Subscribe to Business Classification RSS FeedCPAs and Taxpayers Beware: Employee Telecommuting Is Doing Business In New Jersey For Purposes of Taxation
Posted in Business Classification, New Jersey Corporation Business Tax, State Income Tax, Taxes, TelecommutingThe New Jersey Tax Court has held that a foreign corporation that consistently permits an employee to telecommute from her New Jersey residence is doing business in New Jersey and is subject to the New Jersey Corporation Business Tax. The opinion, released on March 2, 2012, is a warning to taxpayers and their accountants that… Continue Reading
Knowing the ABC’s of Your “Series LLC’s” (Revisited)
Posted in Business Classification, Business Tax, TaxesThe other day I wrote a two-part blog entitled “Knowing the ABC’s of Your ‘Series LLC’s.’” This described my quest to decipher some of the complications inherent in dealing with “LLC’s” (Limited Liability Companies), and with “Series LLC’s” (Series Limited Liability Companies). In doing this, I raised some difficult questions: 1. Could a Series, LLC… Continue Reading
Piercing the Corporate Veil
Posted in Business Classification, Business Entities, Business TaxI have written a new article that Scarinci Hollenbeck will be releasing on its website this week that deals with court procedures for “piercing the corporate veil” on a federal level. The corporate veil is a term often used to describe the separate entity that exists when businesses set up a corporation or a limited… Continue Reading
Knowing the ABC’s of Your “Series LLC’s” (Part 2 of 2)
Posted in Business Classification, Business Tax, TaxesPart 2 of 2: Would a New Jersey Court Accept a “Series LLC?” I went back to the drawing board later that night to find out how New Jersey is handling the situation. Would a New Jersey court accept a Series LLC? New Jersey has not adopted a series limited liability company statute, so the… Continue Reading
Knowing the ABC’s of Your “Series LLC’s” (Part 1 of 2)
Posted in Business Classification, Business Tax, TaxesPart One: John Doe and the Rabbit Hole My colleague, an accountant, was crying the other day in a small corner near our coffee room. I asked him what prompted this surprising and lowly state. He mentioned that one of his clients, John Doe, has a business structure that includes over 20 attributed limited liability… Continue Reading