Mike Yon

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

Mike Yon

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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Statutory Merger vs Statutory Conversion: What’s the Difference?

LLCs and corporations have significant advantages and disadvantages; when you’re starting your new business, one may seem better than the other, but as your business grows, you realize that the other business entity would better suit you. In that case, entrepreneurs may need to complete a reorganization. If you need to convert your corporation to …

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Can I Be My Own Registered Agent?

If you’re starting a new business, you’ll undoubtedly have seen registered agent services on offer. You’re legally obligated to have a registered agent and registered office if you’re forming an LLC or corporation, but does that mean you need a professional registered agent service?  What is a registered agent?  A registered agent is a person …

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Limited Liability Company vs Limited Liability Corporation

Corporations vs LLCs  LLCs are limited liability companies, legal entities used to form a business, offering protection from incurring personal liability for debts and other business obligations. Your personal assets can’t be used in legal disputes against the LLC.  LLCs are common as they provide a similar legal framework to corporations with fewer regulatory requirements. …

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