Legal Entity Ownership Program (LEOP) Understanding the Questions on FTB Form 100 and BOE Form 100-B Background As a result of the implementation of Proposition 13 in 1978, most locally-assessed real property is subject to reassessment only when there has been a change in ownership or new construction as defined by various constitutional, statutory and…

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The purpose of this information sheet is to explain California’s payroll tax* treatment of the following types of limited liability entities: • Limited Liability Company (LLC) • Limited Partnership (LP) • Limited Liability Partnership (LLP) • Limited Liability Limited Partnership (LLLP) Each of the above business entity types is created when it formally organizes and…

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Have you formed some kind of entity in order to protect yourself from personal liability–for example, a corporation or LLC? If not, you may be personally liable from lawsuits, creditors, and other disputes. California recognizes many forms of business entities, each with its own qualities.  Corporations are unique because of the many types available in…

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Choosing a business name for your new venture is often one of the first decisions made by an entrepreneur.  It is a motivating and strong step forward; however, the decision should not be made in haste just because it is a semi-permanent decision, but should also be based on the legal risks and liability that…

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Mission statements do not have to be a useless verbose point of reference at quarterly meetings.  A concrete and focus mission statement may actually inspire both management and employees.  Laying out goals for your company in a mission statement can really help productivity and innovation.  A mission statement that gives some vague aspiration can leave…

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