Sample Item 23: Receipts ITEM 23: RECEIPTS Receipt This disclosure document summarizes certain provisions of the franchise agreement and other information in plain English. Read this disclosure document and all agreements carefully. If Belmont offers you a franchise, it must provide this disclosure document to you 14 calendar days before you sign a binding agreement…
What is the property tax refund program? The homeowner’s property tax refund program (sometimes called the “circuit breaker” or the PTR) is a state-paid refund that provides tax relief to homeowners whose property taxes are high relative to their incomes. If property tax exceeds a threshold percentage of income, the refund equals a percentage of…
Introduction Whether you are self-employed or an employee, if you use a portion of your home for business, you may be able to take a home office deduction, including some operating expenses for the business use of a part of your home. These expenses may include mortgage interest, real estate taxes, insurance, utilities, repairs, and…
Sole Proprietorship There are no federal or state regulations governing termination of the sole proprietorship itself. The sole proprietor simply winds up the affairs of the business and discontinues operations. If the business had employees, the owner must notify federal and state taxing authorities that the proprietor is no longer operating the business and paying…
Sole Proprietorship A sole proprietor transfers ownership of the business by transferring the assets of the business to the new owner. The prior proprietorship is terminated and a new proprietorship is established under the new owner. Partnership The transfer of a partner’s economic interest in a partnership is determined by the partnership agreement, or by…
A startup business, regardless of form, generally will find it difficult to obtain outside financing. The statistical failure rate for new businesses is high, and many lenders view financing the startup business venture as extremely risky. Banks and other creditors generally will require a significant capital investment by the business owner, and a personal guarantee…
Sole Proprietorship The sole proprietor has full and complete authority to manage and control the business. There are no partners or shareholders to consult before making decisions. This form of organization gives the proprietor maximum freedom to run the business and respond quickly to day-to-day business needs. The disadvantage of this form is that the…
All businesses, regardless of their form, will encounter certain organizational costs. These costs can include developing a business plan, obtaining necessary licenses and permits, conducting market research studies, acquiring equipment, obtaining the advice of counsel, and other costs. Sole Proprietorship The sole proprietorship is the simplest form of organization, and the least expensive to establish….
Wages for employees are covered by both Federal and state wage and hour laws. The federal law that governs wage and overtime requirements is the Fair Labor Standards Act (FLSA) and the regulations established under that act. In most cases, the FSLA does not require employers to pay minimum wage or overtime to employees who…
A recent case before the Minnesota Court of Appeals was important because it affirmed the right to sue a Minnesota city, township, or other municipality. In the case, Washington County sued the City of Oak Park Heights, claiming that the City had overcharged the county for water and sewer services. The County’s claim, in legal…
The federal Family Medical Leave Act (FMLA) provides that if an employer violates the FMLA, the employee may be entitled to “liquidated damages”. Liquidated damages are in essence a penalty, are in addition to actual damages and are calculated as an amount equal to: Wages, salary, employment benefits or other compensation denied or lost to…
Employers Must Promptly Pay Wages to Ex-Employees Minnesota Statutes require that employees be paid promptly upon the termination of their employment. The actual date that payment must be made depends upon whether the employee quit the job or was terminated. If the employee is fired, payment must be made immediately. See Minnesota Statutes section 181.13….
This is an overview of the steps involved in starting an herb business in Minnesota: Form an LLC under the business name you pick (we charge a total of $620 for this) Obtain an EIN number for the LLC: EIN at the IRS Visit the Zoning Department at your city hall to ensure that you…
In this video, you get answers to these questions about separation agreements, also known as severance agreements: What is a severance agreement? What questions should you ask before signing a severance agreement? What are you agreeing to when signing a severance agreement? What do attorneys look for in a severance agreement? Introduction Often a business…
Paying Overtime – Minnesota Law The Minnesota Fair Labor Standards Act requires employers to pay overtime for all hours worked over 48 per workweek, unless the employee is exempt under Minnesota Statutes 177.23, subdivision 7. Overtime pay must be at least 1.5 times the employee’s regular rate of pay. This is calculated by dividing the…
Pregnancy Discrimination Pregnancy itself can be an exciting, stressful, overwhelming experience. It also creates added stress for working women who have to decide how to tell their employer they are expecting and coordinate maternity leave. What happens when an employer is less than accommodating to a pregnant employee? Federal law provides that an employer cannot…
Just because you are legally owed money, doesn’t mean it is easy to get that money. You have probably heard the saying, “you can’t squeeze blood from a turnip.” If the debtor has no money and no assets it will be difficult to get your money. On the other hand, what if your debtor is…
If you have a judgment you are trying to collect, and the debtor has funds at a bank or other financial institution, you may garnish the debtor’s account. Obtaining the judgment and finding out where the debtor has assets is probably the most difficult and expensive part of debt collection. In order to garnish a…
Once you have a judgment against a non-paying debtor, it may be time to garnish his or her wages. Step 1: Serve Notice of Garnishment You must serve the debtor with a Garnishment Exemption Notice and Notice of Intent to Garnish Earnings Within 10 Days upon the debtor at least 10 days before attempting to…
Attempting to collect a debt can be difficult, even when you already have a court order showing that the debt is owed to you. Not every debtor will pay a debt simply because a court has ruled he or she owes it. Seek Court Intervention When debtors won’t simply pay up, you may need to…
Choosing the Form of Business Organization: Tax and Non-Tax Considerations Introduction One of the fundamental initial decisions a new business owner faces is choosing the form of organization for the business. Generally speaking, a person should consider himself or herself to be “in business” once they have begun the operation of an activity for which…
If you are a creditor attempting to collect a debt, but the person owing the debt is refusing to pay, there are legal remedies available to you. First, you must initiate a lawsuit and obtain a judgment in your favor for the amount of debt owed to you. If you serve the debtor with a…
Is a creditor, if you request an Order for Disclosure from a court ordering the debtor provide you with information about the debtor’s assets, but the debtor doesn’t obey the court, you are not done. If the debtor fails to comply with the court’s Order for Disclosure and does not provide you with the debtor’s…
The first step to collecting a debt owed is obtaining a judgment from a court. Once you have a judgment, you can begin the collection process. If the debtor does not automatically pay, you will have to do some work. After obtaining a judgment and docketing the judgment, you will need to find out…
Cease and desist letters may be useful in a number of circumstances including Defamation, Slander, or Libel Trademark Infringement Copyright Infringement Patent Infringement Breach of Contract Harassment Debt Collection (to collection agency or creditor under Fair Debt Collections Practices Act) Legal Effect of a Cease & Desist Letter From a legal perspective, a cease and…
Watch this video before you send a Cease and Desist Letter: In this video, you get answers to these questions: What is a cease and desist letter? When should I send one? Who can send one? How detailed should I be? What does a cease and desist letter do? What are some common mistakes made…
The laws surrounding bankruptcy are intended to provide a debtor an opportunity to begin again, start over without existing debt, or reorganize the repayment schedule to find a workable payment plan. Federal Courts A bankruptcy case normally begins by the debtor filing a petition with the bankruptcy court. Federal courts, and not state courts, hear…
I have represented a number of senior citizens who have been victims of a STOLI scam. This article explains the basics of the STOLI scam on seniors and what they can do to fight back. In short, the seniors should turn the tables on the STOLI businesses to sell the insurance policy themselves rather than…
A TRO is a Temporary Restraining Order issued by a Minnesota court judge. The most common type of TRO is for domestic abuse or threats of violence in the family context, but Temporary Restraining Orders are also used in a business context. Click here for information on Restraining Orders for Domestic Abuse Minnesota Business TRO…
Minnesota landlords have legal rights when dealing with difficult tenants: renters who violate their lease, don’t pay rent, damage the property, or otherwise break Minnesota landlord-tenant law. The article below discusses landlord’s rights when dealing with problem renters. Are you a tenant? Contact Homeline, a Minnesota nonprofit organization that helps residential tenants with rental problems. Minnesota Month-to-Month…