Tag Archive: Minnesota Small Business

Jan 30

“Right to Repair” Truce

Earlier, we wrote about “Right to Repair” legislation that was recently passed in Massachusetts.  Since then, the major players on this issue came together to sign a Memorandum of Understanding earlier this month.  This MOU appears to be a temporary truce, intended to cool off the lobbying efforts for additional legislation. The parties to the …

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Jan 13

Suggested Maintenance for Your Small Business

Most of our lives are governed by suggested maintenance: Change your oil every 5,000 miles Get a colonoscopy when you turn 40 See your dentist and replace your toothbrush every six months Limit yourself to 2,000 calories per day Change your password every three months But what maintenance do you perform for your small business …

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Jan 10

How to Structure the Purchase and Sale of a Business: Asset Sale or Stock Sale?

When a Buyer is looking to acquire a business and a Seller is looking to sell a business the most common question is whether the transaction should be structured as an asset sale or a stock sale. These methods are the two primary deal structures used when businesses are purchased and sold. In an asset …

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Dec 20

Minnesota Ban the Box Legislation takes effect

Minnesota employers should review employment applications prior to January 1, 2014, to make sure that they have removed questions relating to the criminal history of their applicants.  Chapter 61, signed by Governor Dayton May 13, 2013 but effective January 1, prohibits private employers from requesting or requiring disclosure of a criminal record when filling a …

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Dec 09

Will Minnesota be next for a “Right to Repair Law”?

A new Massachusetts law known as the “Right to Repair Law” requires car manufacturers to make diagnostic and repair systems, tools and information available to independent repair facilities upon “fair and reasonable terms.”  The purpose of this law is to put these shops on a more even playing field with dealers to perform non-warrantied work on …

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Oct 09

The Advantages and Disadvantages of Sole Proprietor in Minnesota

The attorneys at Batten and Beasley can help you make the best decision on the entity type that is right for you. A sole proprietorship will be a viable alternative for operating your business if you will be the only owner and the business is not a type that involves significant risks of liability to …

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Jun 10

Non-Tax Factors of Business Formation Minnesota

In choosing the most appropriate form of organization, the business owner will want to consider a variety of factors, including: complexity and expense of organizing the business; liability of the business owner; distribution of profits and losses; management control and decision making; financing startup and operation of the business; transferability of ownership interest; continuity of …

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May 16

Forming a Business in Minnesota: Limited Liability Company (LLC)

A Minnesota business also may organize as a limited liability company. A limited liability company elects to be treated for tax purposes as a sole proprietorship (disregarded entity), partnership, or corporation. A limited liability company may have one or more members. As described further in the section on tax considerations in choosing the form of …

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May 10

Forming a Business in Minnesota: Corporations

A corporation is a separate legal entity from its owners, owned by one or more shareholders. The corporation must be established in compliance with the statutory requirements of the state of incorporation. The shareholders elect a board of directors which has responsibility for management and control of the corporation. Because the corporation is a separate …

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May 09

Forming a Business in Minnesota: Sole Proprietor and Partnerships

Sole Proprietor In a sole proprietorship, the business is owned controlled by one individual. That person alone receives the profits and bears the losses from the business, and that person alone is responsible for the debts and obligations of the business. Income and expenses of the business are reported on the proprietor’s individual income tax …

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