Types of Business Entities in USA & How to Choose Right One From It

When you are starting a business, there are so many things which comes to your mind and the first things you want to do is to choose the structure of your firm—in other terms, Select a business entity type. These are the Business Entity Types in USA: – Sole Proprietorship General Partnership Limited Partnership C-Corporation S-Corporation Limited Liability Company (LLC) The type of entity you choose for your business defines… Read More »Types of Business Entities in USA & How to Choose Right One From It

Post Incorporation Compliances for OPC

OPC- One Person Company is a kind of company established under the Companies Act, 2013. This kind of business structure enables a solo Entrepreneur to begin and manage the limited liability entity. The main agenda of the OPC establishment is to support individual Enterprises. Here are some points of Post Incorporation Compliances for One Person Company: – File Documents for Registered Office Address If you have missed to fill RO… Read More »Post Incorporation Compliances for OPC

Post Incorporation Compliances for Private Limited Company

When your company is incorporated, a set of compliance-related formalities must be completed to maintain compliance as mentioned in the Companies Act, 2013. Non-compliance could lead to penalties on the Directors and the Company that is why it is essential for those incorporating a company to be aware of the post-incorporation compliance requirements of a company. Obtaining the Certificate of Registration for your Company is an exciting and memorable moment… Read More »Post Incorporation Compliances for Private Limited Company

Post Incorporation Compliances for LLP

Nowadays the procedure of incorporating a company has been made easier which encourages full compliance by the companies. The management need to be fully aware of the post-incorporation compliance to avoid penalties. Obtaining the Certificate of Registration for your Company is an exciting and memorable moment in your business start-up journey. You might have gone through the procedure of arranging needful and required documents as per prescribed standards of MCA… Read More »Post Incorporation Compliances for LLP

All About ESOP

ESOPs is a short form of Employee Stock Ownership Plans which gives workers ownership interest in the company. ESOP is a system under which generally the employees are given a right to get shares of the Company for which they are working. ESOP is a program that provides shares or ownership interest to a company’s staff in the company. Under the program, the employees of a company are allowed to… Read More »All About ESOP

Nominee Under One Person Company

To register an OPC, a nominee must be designated by the sole director of the company. Because one person companies only have one director, the nominee would become the member of the company in case of the death or incapacitation of subscriber. According to the first provision to section 3(1) of the Companies Act 2013, at the time of incorporation of OPC, the sole member of OPC is needed to… Read More »Nominee Under One Person Company

Disadvantages of LLP

Limited Liability Partnerships also referred as LLP and introduced in 2000 by the Partnerships Act 2000 to provide partnerships with the limited liability previously only available to companies. LLP’s may be suitable when the earnings of partners are defined clearly and not simply added to one pot and distributed by dividend. In LLP, the earnings of the members are counted as personal income. The Limited Liability Partnership (LLP) gives you… Read More »Disadvantages of LLP

Benefits of Proprietorship Firm

Sole Proprietorship, you can say is a one-man business organization. Furthermore, a sole proprietor is a person (not a legal person/entity) who have their ownership and manages this type of entity. In Proprietorship Firm, the owner and the entity are same and does not have a separate legal entity. Additionally, a sole proprietorship usually does not get incorporated or registered. So, it is the easiest form of business form and… Read More »Benefits of Proprietorship Firm

Benefits of Private Limited Company

A Private Limited Company is the most common form to carry on a business as an entity intending to make a profit and enjoy the benefits offered by it, particularly limited liability. It is a voluntary association of at least 2 and not more than two hundred members/ shareholders, whose liability is limited according to the shares held by them. The shares of a Private Limited Company cannot be traded… Read More »Benefits of Private Limited Company