working in two states

[Roni Rumsey]

Wondering if anyone in the US has navigated a situation like this. currently am setting up a portion of my biz with a partner who lives in another state. I’m just beginning the research around the legal aspects of that and details we need to take care of. We will consult an attorney. I wanted to be a little knowledgeable about this before we do. Any thought or sharing of experiences would be most welcomed.

[Laura Petrie]

Hello Roni!!
Good to see you here!

I honestly consult with my attorney and accountant on anything having to do with partnership and or setting up finances in business.
Even if I had input I’m safer to tell you, consult your attorney their office will guide you successfully!

CYA!

[Roni Rumsey]

Thanks. will definitely consult the experts.

[Bogdan Bobocea, CEO]

Hi Roni,

I agree with Laura – one extra piece of information that we talk about every time when the word “partnership” shows up: make sure it is NOT and equal partnership. and someone (you!!!) are the majority stockholder and hence have the decision. power.

I would assume that it then would be easier if the corporation would be formed in the state where you live…

BB

[Laura Petrie]

Thanks for being the one to say that Bogdan 🙂
51% / 49% in your favor

[Roni Rumsey]

Hi Bogdan! thanks for the feedback. I would never have considered the 51%-49% divide. makes total sense.

[Author]

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