New York Small Business Legal Questions

There is nothing like a 100% online business even if you sell online. It is important to understand that where you are physical, specially in NY, you may need a license, and if you use a name other than your legal name, you must obtain a DBA registration. Additionally, if you are located in NY but you sell online to customers in other states, there is now a legal threshold after a certain amount of transactions or sales that state will consider you as "doing business" in that state. If you don't deal with that you could face tax issues. Now, whether you need to incorporate that is a decision that involves several analysis. However, keep in mind that you have a physical presence you probably need to. Finally, if you meet that threshold, mentioned above, if a state consider you afe "doing business" you could be required to register or get an application for authority. ... Read More

If a person dies whatever assets he has will be administered according to the laws of the State where the deceased was domiciled. The shares of stock of a person are assets that can be transferred to another by will or by the operation of law. In a corporation, unless otherwise stated in the corporation agreement, shareholders can independently dispose of the shares. Now, in a corporation with only one shareholder, when the shareholder dies all of his assets including the shares owned by him pass to his heirs if any, and his spouse. If his spouse is the one with the right to receive these assets, she will be the new owner of the share and the owner of the company. However, it does not mean that she will be automatically entitled to run the company. Corporations have by-laws which state how the company will be run. If the spouse of the single shareholder of a corporation wants to make changes, she will have to follow the provisions of the by-laws and any other legal provisions related to the administration of the businesses of the company. ... Read More

Under NY General Business Law a person cannot engage in business with a name other than his real name. Otherwise, a person is required to file a certificate of assumed name a.k.a. doing business as. If a persons conducts different businesses under different names, that person will need to file as many certificates as necessary. The purpose of the rule is to have knowledge about those who exercise commerce and to be able to protect consumer. Finally, if a person is conducting businesses on a digital platform additional requirements may apply to avoid misrepresentation or the communication of misleading information. ... Read More