Mike Yon

Mike is the proprietor of CorpStructures.com and owns multiple LLCs, both single-member and multi-member.

Mike Yon

LLC Manager vs. Member

Structuring your business as an LLC is a great idea – once you’ve made that decision, you’ve still got at least one more crucial decision; you’ll need to choose your management structure. In a member-managed LLC, the owners have control over company decisions collectively. A manager-managed LLC places authority in the hands of one or …

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Does an LLC Need an EIN?

A single-member LLC only needs an EIN if it has employees or excise tax liabilities. However, it may be a good idea to obtain an EIN for your LLC. The EIN (Employer Identification Number) is used by the IRS (Internal Revenue Service) to help identify a business entity – you’ll also see this number called …

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Can an LLC Own Another LLC?

One of the biggest concerns for experienced business owners is liability protection; one way business owners can increase their liability protection is by setting up an LLC parent company and creating an LLC parent-subsidiary dynamic. As with all business decisions, you’ll find significant advantages and some disadvantages to this business structure. There are several ways …

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Can You Change The Name of Your LLC?

Most business owners start an LLC, as it’s the most popular business entity with many unique perks. When you start an LLC, you’ll choose the perfect name… sometimes. Sometimes, you’ll need to change it. What seemed perfect at the time may not seem right now, or you might’ve outgrown it or changed branding strategies. Whatever …

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Does a Nonprofit Need to Register in the State to Fundraise?

Nonprofit organizations have been around for a long time. A nonprofit organization is an organization that uses its profits for a charitable purpose rather than benefiting investors, shareholders, or owners. Registered charities enjoy tax-exempt status and may be religious organizations, educational institutions, etc. But there are specific rules when it comes to nonprofit registration and …

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Common LLC Myths You Need To Know

LLCs are one of the most popular business structures, and their increasing popularity has led to speculation about how they work. Along with speculation, there are many prevalent misconceptions.  Entrepreneurs love LLCs, and they are an excellent middle ground between the formalities associated with running a corporation and the flexibility that general partnerships and sole …

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