Many of us are familiar with the story of Snow White and the seven dwarfs. Central to the story is the relationship between Snow White and her stepmother. After losing his wife, the
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Occasionally, individuals may hesitate to serve on the board of a nonprofit because they are afraid that they may incur liability based on decisions they make as directors. However, Virginia promotes nonprofit board
While it may seem contradictory, a non-profit can own all of the ownership interest in a for-profit entity, whether such entity is a corporation or limited liability company. Why Create a For-Profit Subsidiary?
As a business executive, you are used to strategizing and creating goals as part of your job. But have you devoted time to strategizing and creating goals to protect yourself and your loved
A registered agent is a person or company that receives official paperwork, like service of process, on behalf of an entity. The registered agent must pass on any paperwork it receives to the
Nonprofits generally should avoid making loans to officers and directors even though Virginia does not prohibit such loans. In fact, under Va. Code § 13.1-826(9), nonstock corporations explicitly have the power to lend
Virginia allows plaintiffs to recover from the employer of an individual who negligently harms them on three theories: negligent hiring, negligent retention, and vicarious liability. Negligent Hiring & Retention Negligent hiring occurs when
The IRS offers group exemptions whereby a central organization’s federal tax exemption will apply to its subordinates and obviate any need of the subordinates to separately apply for exemption. Rather than each organization
When you started your limited liability company (LLC), the last thing you probably had on your mind was ending it. Many LLCs are created for specific purposes, however, and when that purpose has
An Employer Identification Number (EIN) is a type of Tax Identification Number (TIN). There are many kinds of TINs, including Social Security Numbers (SSNs). An EIN is like a SSN but is used
