Business Guide
Minimum Wage
1. Federal-Fair Labor Standards Act (FLSA) The Act applies to almost every private businesses and government/public institutions.In general, it requires employers to pay employees who are covered by this Act a minimum wage for the hours of labor. The hours of labor is defined as actual working hours plus the time referred as “engaged to…
Read MoreRequirements for Money Service Business
Bank Secrecy Act(BSA) Requirements for MSBs Registration must register by the end of the 180day period beginning on the day after the date it was established renewal : registration every two years by Dec. 31 at the end of the two-calendar year period following their initial registration penalty : civil & criminal penalty is up to…
Read MoreProcess and required documents to set up a Business in California
1. Fictitious Name Any business that doesn’t use its legal name (the official name of the person or entity that owns the business) as part of its business name must comply with fictitious or assumed business name requirements. You can register the name with a government agency; the state, a newspaper company, or your County…
Read MoreCorporation set up procedure
1. Search Corporation Name This is the first procedure to decide on a corporate name. For California corporations visit http://www.sos.ca.gov/business/corp/corp_naav.htm , and go to Name Availability to find out which names are available. 2. Name Reservation By filling out the Name Reservation Request Form, you can reserve a Corporation name. You can choose up to…
Read MoreEntity Comparison
When you want to start your own business, the very first thing you should consider is what kind of Business entity you are going to choose for your business. There are four different types of entity you could choose from; Sole proprietorship, C Corporation, S Corporation and Limited Liability Company. Prior to your selection, you…
Read MoreSetting up a Branch vs. a Subsidiary
– Foreign corporations that have overseas expansion plan must decide the initial structure for their prospective business activities in the U.S. It varies by situations but in most cases they set up a liaison office fist. If market researches and feasibility tests are positive, then they covert to branches (foreign branch corporations), furthermore, they set…
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