Keeping owners, managers, and stakeholders up to date on issues affecting their businesses.
Nonqualified Deferred Compensation (NQDC) arrangements (a.k.a. nonqualified plans) allow your employees to defer some of their pay until later, such as retirement, death, or a specified date. In this article, we’ll discuss some of the advantages and disadvantages of nonqualified plans to see if one could be right for your company.
On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule (the Final Rule) implementing the Corporate Transparency Act’s beneficial ownership information (BOI) provisions.
A member’s right to payment after withdrawing from the LLC depends on what law or agreement governs the LLC. If the LLC is governed by the Old Law, a member would be entitled to cash out; if the LLC is governed by the New Law, the member is required to let it ride; and if the LLC has an operating agreement, the member is likely bound by the agreement made among the members. The stakes can be high for both the withdrawing member and the ongoing LLC business, and the parties’ rights are not always clear.