WA Business Law Blog

Section A: A Comparative Analysis of Partnerships and Corporations In answering the question, “What is an LLC?” we begin by exploring the fundamental differences between partnerships and corporations. This foundational knowledge sets the stage for our subsequent discussion in Section B on Limited Liability Companies (LLCs), which embody characteristics of both these traditional business structures.… Read More

If you are thinking of starting a business, buying investment property, or purchasing a second home, you should consider forming a limited liability company (“LLC”). An LLC is a flexible business structure that offers many benefits, including: Legal protection: An LLC separates your personal assets from your business liabilities, so you are not personally responsible… Read More

I recently gave a talk to local small business owners about the Corporate Transparency Act (“CTA”) focused on the basics of the CTA: who reports, what information is reported, and when the information is reported. However, an attendee asked a very good question: as a director  on the Board of several local corporations, what are… Read More

David Tingstad, the Chair of Beresford Booth’s Business and Real Estate Group, has long served on Washington State’s Partnership Law Committee.  David, and Douglas Batey co-authored an article regarding a recent court of appeals case that wrongfully stated Washington’s LLC Act was based on the Revised Uniform LLC Act.  The article is important work and… Read More

When individuals form entities in Washington State, they most commonly set up Limited liability Companies ("LLCs"), which provide significant tax and liability benefits. People form LLCs in numerous different industries and for a large variety of reasons, including to limit their liability for business carried out by the LLC. Eventually, however, the LLC will run… Read More

The Corporate Transparency Act (CTA), passed by Congress January 1st, 2021, became effective in 2022 and aims to fight money laundering and other illicit activity. It is likely your business is required to comply with the CTA and report specific information to the government, including your driver’s license or passport. As lawyers who work regularly… Read More

Security interests in personal property are governed by the Uniform Commercial Code (“UCC”). A security interest is an interest granted in personal property to secure payment or performance of an obligation. For example, a business owner borrows money for its business and grants a security interest to the lender in the owner’s inventory and equipment.… Read More

In Alliance for Fair Board Recruitment, a federal court ruled in May 2023 that California’s law requiring corporations to maintain minimum membership on a corporation’s board of directors from individuals who identify as members of certain races and genders violates the Equal Protection Clause of the US Constitution.  In 2020, Washington adopted its own version… Read More

It is not often that the U.S. Supreme Court takes on a case with entity type ramifications, but they did just that in the recent 2023 decision of Bartenwerfer v. Buckley.  In Bartenwerfer, the all-too-common partnership to flip houses goes awry when one of the partners commits fraud and the innocent partner tries to limit… Read More