Get And Sign Ls 54 2017-2021 Form
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FAQs nys ls 54 2021
What are the pros & cons of forming a solo law firm as a PLLC vs. a PC in New York state?I suggest you consult your accountant for the tax implications. However, the cons of forming both are: filing fees and likely annual fees, corporate formalities (for the PC), and more paperwork to deal with.I suggest you use your name or a DBA to start.Neither the PLLC or PC will shield you from liability for your actions. Additionally, few, if any, lenders will lend to you without a personal guarantee.Discuss this with your accountant, but while you're a solo, even with a PC making an S-election you'll have a hard time persuading the IRS that income you earn working for yourself by yourself isn't self-employment income.The Bottom LineYour accountant is the best resourse for the tax nuances between the two. From a legal perspective, obviously the PC will require stricter corporate formalities. But you may wish to consider operating as a sole-proprietor until there is some advantage to incorporating.
Will California Labor Laws apply if the company is based in California but the employee is out-of-state?Most employment agreements involve what is known as a “choice of law” provision under which you are agreeing that any disputes arising under that contract are controlled by the law of a specific jurisdiction. Generally speaking, if you’re an out-of-state employee who agrees to CA law governing your employment, much of what is covered under that agreement would be governed by California law. However, there are legal requirements — statutes and regulations — that cannot be opted out of by employees; these specific provisions and protections vary greatly from state-to-state, so there’s no way that someone can comprehensively answer this question.If you have a question about whether your local laws or California laws would apply to a specific situation regarding your employment, you should seek the advice of a licensed attorney in your state, who can review the agreement that you signed and compare it to all applicable law in your jurisdiction and provide you with actionable advice on the matter. Many lawyers offer free consultations on such matters, and will probably provide you with a good answer for a few hundred dollars, which if the situation is important enough to you is probably worth the investment.
In New York State's admission to practice process, what are the criteria of a period of "law related employment" for which the applicant must provide a form affidavit?First, if you're filling out the affidavit, I assume you passed the NY bar in which case congratulations. Second, I had the same question as you when filling out my NY bar application earlier this year. I emailed the bar and asked and their answer was "law-related employment" consists of any employment where you had to use lawyer-like skills and judgment. I also worked as a research assistant in law school and, by the NY definition, it counted as law-related employment. If, however, your research assistant job involved a lot of photocopying, web page design, etc and hardly any lawyering skill or judgment, then it probably wouldn't count. I agree with Matthew Bohrer that putting it down is best if there's any doubt in your mind. Andy
What is the reform in labor law that everyone is asking India to make? How is the current labor law of India is different than China?As compared to a small manufacturing company, a large manufacturing company needs to provide substantial employment benefits that include:Gratuity (Payment of Gratuity Act, 1972) [ 10+ employees]Pension + insurance cover (EPF act & Misc provisions act 1942), [20+ employees]Minimum 8.33% bonus, payment of bonus act. [20+ employees]Apart from this, irrespective of the size of the company, it needs to provide minimum wages.Other such as maternity benefits, overtime etc in Factories act 1948 etc...Take two firms A and B , large and small sizes.B will have to pay just monthly minimum employee wage of let’s say 8500rs.A on the other hand will have to pay minimum + pension + insurance + bonus + perks if any. I am not sure how much but the cost goes up with size. The larger the firm the higher the employee costs.Also, there are tough norms for hiring and firing of employees, which make it all the more difficult and expensive for a large employee base.Hence companies stayed on with lesser number of employees.Large companies can borrow more, create more wealth, employ more ppl than small companies can. We need large companies to drive the growthTo compare with China, look at the chart below:Its a well acknowledged problem - experts world over have commented about it. For obvious reasons it is opposed by Trade Unions and populist parties such as Congress. The hope is Modi. It is hugely anti-populist, but is critical for development. You want to have better roads, better trains, better life, you need to allow this labour law and land law.If further interested, read more about the Industrial Relations Code Bill (2016) and the Wage Code Bill (2016) on internet.