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August 2018 Archives

Some businesses may change structure after tax reforms

As California businesses grow after their formation, they may find that they want to change their type of corporate registration. The Tax Cuts and Jobs Act, passed in December 2017, made it a profitable choice for many S corporations to become C corporations instead. The tax reform bill cut the highest tax rate for C corporations from 35 to 21 percent. In addition, pass-through businesses like S corporations also received a limited 20 percent tax deduction. In order to change from an S corporation to a C corporation, a majority of shareholders must consent to the change.

Cybersecurity risks increase during mergers and acquisitions

Companies in California engaged in mergers and acquisitions always have many details to sort through to complete the transactions. Cybersecurity represents an issue that cannot be overlooked. A data breach could produce significant liabilities and drive down the asking price for a business. In addition to looking for a history of cyber attacks, a company must manage risks arising from inside threats and the difficulty of drawing together technological platforms.

Proposed California construction leads to environmental lawsuit

A group of California citizens has taken the state to court over the construction of a new bridge. The litigation over the enforcement of the state's environmental law could have an impact on businesses throughout the Golden State.

Are you ready to formally establish your business?

Formally establishing a business is an important step that you should never approach casually, at least not if you hope to see your business venture succeed. While businesses may develop any number of ways, once it is time to take the idea "out of the basement," it is always wise to make sure that you understand all the steps you must take to found the business properly and legally — or else you may create costly complications in the future and miss out on opportunities that could make or break your business dreams.

Grocery and pharmacy chains' merger falls apart

For California companies of all sizes, mergers and acquisitions can be an important way to grow the business and expand. However, one high-profile national merger between two retail chains was suddenly cancelled in August after a previous announcement and scheduled shareholder votes. Supermarket chain Albertsons and pharmacy retailer Rite-Aid were to come together in the deal, called off the day before Rite-Aid shareholders were to vote on the proposed agreement.

Online presence still important for small businesses

When people in California go into business for themselves, they may be so focused on improving their product that they do not want to focus on keeping up a social media presence. Many people are starting new enterprises, especially as a Wells Fargo and Gallup poll revealed that optimism among small businesses is the highest it has been in 15 years. Indeed, 78 percent of small business owners said that their financial situations are good, and 69 percent said that their cash flow was positive in 2017. Another 77 percent also expected positive results in the coming year.

Founder of LLC University outlines basics of company formation

Entrepreneurs in California need to establish a business entity, often a limited liability company, to separate business operations from their personal finances. To aid people confronted by this process, one web designer built the website LLC University. The online resource guides people through the process of forming an LLC, and the founder has explained the general steps for company formation.

Disney and Fox shareholders approve $71.3 billion deal

One of the biggest acquisitions in entertainment history took another step toward completion on July 27 when shareholders from California-based Disney and New York-based 21st Century Fox voted in favor of a deal worth $71.3 billion. The path was cleared for Disney to close the deal on July 19 when Comcast announced that it was bowing out of the race. The Pennsylvania-based telecommunications company entered the fray in June with a $65 billion bid for assets that include the FRX Network, the 21st Century Fox movie studio and National Geographic.

Blockchain company buys file-sharing firm

BitTorrent, the software company that created one of the most popular file-sharing programs, has become a part of the larger blockchain corporation, Tron. Tron reportedly paid $126 million for the software firm that has been in existence since 2004 and boasts 100 million users of its signature services, including the BitTorrent program and BitTorrent Now. The software will continue to be maintained, spokespeople said, saying that it will operate out of Tron's offices in San Francisco.

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