Since 2000, the California Family Rights Act (CFRA) has required coveredemployers to approve time off for their employees in the event of a personal illness, the need to attend the illness of a family member, or the birth or adoption of a child. The most recent set of amendments to the CFRA went into effect July 1, 2015.
This year, a series of new employment laws were implemented in California. Among the most significant are new regulations on the proper reporting of safety concerns, guidelines to address arbitration as an alternative form of dispute resolution, and instructions on how data breaches should be handled.
The California legislature recently passed a bill amending the state’s Fair Pay Act and providing greater protections against sex discrimination in wages.
If you own a small business or a share of a business, it may be your most valuable asset. Unfortunately, many small businesses do not survive the retirement or death of their owners. Thus, responsible succession planning, meaning planning for the transfer of ownership and management after an owner leaves, is key to a business’s continued success.
Before a corporation may begin termination, the shareholders must either vote for dissolution or sign a consent to dissolve. If they vote to dissolve, the corporation must file a Certification of Election to Wind Up and Dissolve with the state of California. Next, the winding up process begins.
Sometimes, the people who run a corporation decide to end the business. However, they cannot simply walk away. There are legal obligations involved in dissolving a business that is registered with the state. In most cases, when a corporation ends, the shareholders must first dissolve and wind up the business.
In the minds of many, the introduction and passage of Assembly Bill 129 was long overdue in a society where the use of digital currency has become commonplace.
In California, a general partnership is an association of two or more persons, acting as co-owners of a business for profit. Any partner in a partnership is free to dissociate, or leave the partnership, at any time.
An important consideration when starting or registering a business in California is the state franchise tax. It may influence whether or not you decide to register a business entity, and the type of entity to choose. In California, LLCs, corporations, and limited partnerships must pay the annual franchise tax of a minimum of $800.
When you are starting a business, one of the most important things to think about is how to organize the business. Depending on issues such as liability protection, tax laws, organization structure, and your investment needs, different business entities may be appropriate, and you can select an entity that is best suited to your needs.
