Once you incorporate your business, you will likely be responsible for filing a corporation tax return in New York. According to the New York State Department of Taxation and Finance, there are separate tax returns for each type of business, such as S corporations, banking corporations, farmers’ cooperatives and telecommunication companies.
Entrepreneurs not only capture the essence of the American dream, but they also play an important role in shaping the U.S. economy. According to a report from Entrepreneur magazine, about 39 percent of small businesses will make a profit, 30 percent will actually lose money and 30 percent will break even.
If you own intellectual property, you should know how to protect it. According to the National Crime Prevention Council, intellectual property theft in this arena is a pervasive problem. The council reports that copyright infringement alone costs the U.S. economy $58 billion every year.
Business mergers are a common corporate strategy for many New York companies. Merging the interests and goals of separate companies may provide opportunities for further growth and success. However, the process is often difficult for employees, many of whom have been accustomed to their company’s culture and procedures for years. The attorneys at Cox Padmore Skolnik & Shakarchy LLP are familiar with each aspect of the mergers and acquisitions processes, including those that are positive and the ones that present more of a challenge.