Posts for "Alternative Business Entities" filter
Kevin Brady at Delaware Litigation Blog has the story.
Delaware holding companies are a byproduct of Delaware state income tax law that allows out-of-state companies to exempt some of their income from taxation. Specifically, the Delaware Code provides that:
In Cook v. Patient Edu, LLC, 2013 WL 2501940 (Mass.), the Massachusetts Supreme Judicial Court has held that under Massachusetts state law (specifically, the Wage Act), managers of a limited liability company can be found liable for unpaid wages to employees of the LLC.
Oregon, which previously passed a benefit corporation statute, has now become the second state in the country to enact benefit limited liability company (BLLC) legislation.
The Delaware Senate has passed House Bill 126, amending the Delaware Limited Liability Company Act. The Delaware House of Representatives passed the bill on May 15.
OHSonline reports that Nevada has passed a benefit corporation statute to take effect in 2014.
Details, and some criticism, at LLC Law Monitor.