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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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What Is a Partnership in Business? Key Facts and Types Explained

Partnerships can be an effective way to structure a small business. However, before forming one, you should carefully consider whether it’s the best legal structure for you. This article explains “what is a partnership in business,” discusses the risks and benefits of forming one, and highlights some of the many legal issues that a partnership […]

Author: Christopher D. Warren

August 30, 2024

Partnership Dissolution: Steps, Legal Requirements, and Best Practices

Deciding to end a business partnership is rarely an easy decision. After all, you have likely poured significant time and money into the venture. The partnership dissolution process can also be challenging, particularly if you and your partner don’t see eye to eye. To minimize legal headaches when terminating a partnership, it is imperative to […]

Author: Christopher D. Warren

August 29, 2024

How to Dissolve a Partnership: Legal Steps and Considerations

If you don’t correctly and completely dissolve your partnership, you could face liability long after your business closes its doors. Even when all partners agree to end the partnership, there are still numerous legal issues that must be addressed, from terminating contracts to distributing assets. Disagreements between partners can make the process even more challenging. […]

Author: Christopher D. Warren

August 29, 2024

What New York LLC Owners Can Learn from Long-Standing Feud

A nearly four-decade feud between the former co-owners of two New York limited liability companies (LLCs) serves as a cautionary tale for all owners of closely held businesses. The latest decision in Rosenblum v. Rosenblum, Index No. 654177/2015 (Sup.Ct., NY. County, 2024)citing Rosenblum v. Rosenblum, 214 AD3d 440 (N.Y.A.D., 1st Dep’t 2023), involved a fair […]

Author: Christopher D. Warren

July 19, 2024

Breaking Ties: The Essentials of the Dissolution of a Business Partnership

The dissolution of a business partnership is not as simple as shutting the doors. Just like when launching a new business, there is a legal process that must be followed to ensure that you and your business don’t face unintended liability. In addition to reaching an agreement between partners to wind down the partnership, other […]

Author: Christopher D. Warren

March 13, 2024

Demystifying the New York General Partnership Dissolution Requirements

Given the prevailing use of limited liability companies, general partnerships have become increasingly rare, typically being relegated to industries like finance and real estate. Notwithstanding this, the dissolution of a general partnership is no less difficult. To best navigate the complexities, it is important to work with an experienced attorney who ensures that you follow […]

Author: Michael J. Sheppeard

March 8, 2024

How to Change Your Business Name in NJ

As any new bride can attest, changing your name is a lot harder than you might expect. The same is true for New Jersey businesses… As any new bride can attest, changing your name is a lot harder than you might expect. The same is true for New Jersey businesses. In addition to the legal […]

Author: Jorge R. de Armas

June 2, 2022

Two Municipal Approvals Upheld By SH-LAW Attorney in Elizabeth, NJ

Congratulations to Scarinci Hollenbeck partner Patrick J. McNamara, counsel for the Elizabeth Planning Board, who played an integral role in successfully upholding two municipal approvals allowing construction of two apartment complexes in Elizabeth, New Jersey (“the City”). The site plan approvals granted to entities Engel Investments, LLC and Engel Gardens, LLC, were challenged on the […]

Author: Scarinci Hollenbeck, LLC

June 12, 2017

Significant Changes in Federal Tax Law Affecting Partnerships and LLC’s

Could These Changes in Federal Tax Law Affect Your Partnership or LLC? The Bipartisan Budget Act changed the procedures for auditing tax returns filed by partnerships. The TEFRA partnership audit procedures which were adopted in 1982 and the electing large partnership rules are repealed effective for returns filed for partnership tax years beginning after 2017.These […]

Author: Frank L. Brunetti

October 19, 2016

Is Selecting an S Corporation Business the Best Option?

Changing to an S Corporation Business or selecting an “S-Corp” is becoming popular for small business owners. In recent years, changes in tax laws have affected the way small businesses elect to be taxed. Businesses typically form corporations when transitioning from a sole proprietorship to a larger entity with multiple owners or employees. However, now businesses are more […]

Author: James F. McDonough

June 17, 2016

Sole-Owner LLCs: Are you really protected?

Many limited liability companies (“LLCs”) are created in an effort to decrease personal liability. However, if you are a sole owner of an LLC, it is important to do more than just create the LLC. There are many actions that must be taken after filing the organizational document, be it a Certificate of Formation or […]

Author: Robert A. Marsico

April 24, 2014

Does NJ’s New LLC Law Impact Your Business?

New Jersey’s Revised Uniform Limited Liability Company Act (the “Revised Act”) became effective on March 1, 2014. The Revised Act was effective as of March 18, 2013 for newly formed LLCs and now applies to all New Jersey LLCs regardless of when formed. The changes in the law are significant enough to warrant managers and members […]

Author: Kenneth C. Oh

April 7, 2014

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