3134 Houston Manufacturers,
Service Providers, and Suppliers
in 292 categories |
|
|
|
 |
|
Houston Manufacturing Related Press Releases |
|
|
Home
|
Written by Marc J. Krasney, P.C.
|
Q. A partner and I are planning to open a small publishing house, and we have five people who are willing to invest money for shares, so we are planning to open as a S Corp. I have several questions about having shareholders, including: Do we have to have a Board of Directors?
What kind of powers do directors actually have? What exactly should we cover in our bylaws if we incorporate? Should we just get stock bylaws we can order somewhere or should they be specific to our company? If we decide to have shareholders, do we need Buy-Sell Agreements? What should a Buy-Sell agreement cover? If we decide not to take shareholders and have a partnership, what type of Buy-Sell Agreement should we have and why? If we do this business as a S Corp, must we keep Corporate Book, and if so what must be included in the books and how, when, and why must the books be updated?
First, opening a small business is exciting; however, for the untrained and weary, it is very scary. Most owners just focus on making the widgets or providing the service and forget all the behind the scenes things that must be done or worse yet, listen to friends who are not qualified. In your question, you focus on an S Corporation like that is a separate entity recognized by the Texas Secretary of State. You are partly right.
An “S” corporation is not a matter of state corporate law but rather a federal tax election. A for-profit corporation elects to be taxed as an “S” corporation by filing an election with the Internal Revenue Service within a certain time period. In the eyes of the Texas Secretary of State all Texas corporations are the same. The IRS and/or competent tax counsel will be able to assist with the decision to be taxed as an “S” corporation and the requirements for filing the election. Setting up an S corporation is not a matter with which the Secretary of State will assist.
Do we have to have a Board of Directors?
No. As you know, a corporation is a legal person with limited liability, centralized management, perpetual duration and ease of ownership transferability. Owners of a corporation are called shareholders and those who manage the corporation are called directors. However, Texas state law does allow for shareholders to enter into a shareholder agreement to eliminate directors and manage the corporation. For a small business this may be advantageous; however, if you ever want to sell stock to a shareholder, it is likely that shareholder will not want to participate in the management of the corporation.
|
|
Read more...
|
|
|
Written by Dennis Tardan
|
When it came time to renew our electricity contract, my wife and I were scratching our collective heads as we sorted through the bewildering array of choices. Our minds swam with prices per kWh, monthly fees, contract lengths, sources of power generation and emissions.
We finally determined the lowest absolute price, after the add-ins, monthly fees and other hidden costs. When we realized that the electricity we would be buying was going to be generated by mostly non-renewable sources such as coal and natural gas, we decided to take a second look. We learned that the emissions for this particular utilities company – the particulates and nitrous oxide – were significantly higher than average.
We decided it was time to vote. We were going to vote with our pocketbook. We chose an electric company rate plan that would be generated by 100% wind power. The plan is going to be more expensive, but not significantly more so, than our other options. We decided it was important to make an investment in the future of the planet, even if it would make only the tiniest of blips upon the energy grid.
I believe that every time I choose a brand of gasoline, shoes, produce, or burger, I vote. I am telling the producers and distributors of these products and services that I not only approve of their offerings but also the policies and procedures used to create and deliver them to the marketplace. |
|
Read more...
|
|
|
Written by Vickie Adair
|
|
"I have come to a resolution myself, as I hope every good citizen will, never again to purchase any article of foreign manufacture which can be had of American make, be the difference of price what it may." ----Thomas Jefferson
We all theoretically support the idea of local businesses with employees circulating money in our community, but often forget a business’s survival depends on our patronage. Houston businesses not only provide paychecks that pump money back into the local economy, but they also employ a wide array of supporting services. They hire architects, designers, cabinet shops, sign makers and contractors for construction and help grow business for local accountants, insurance brokers, computer consultants, attorneys, advertising agencies and others. The goal of HoustonManufacturers.com is to bring local manufacturers together with Houston service providers and suppliers, as well as other potential clients. |
|
Read more...
|
|
|
Written by Dennis Tardan
|
|
In order to stay viable and competitive in a constantly evolving marketplace, it is imperative that we get the most out of our resources. Organizations both public and private have streamlined and downsized requiring that they be more efficient in every facet of business practice.
Everyone is stretched thin. How is it possible to get more out of the people who work with us and for us without having the entire system melt down in a pool of exhaustion?
There is a rich and underutilized resource that is available to everyone, whether you are a senior executive, a middle manager or any one of the invaluable employees or partners. That resource is the power of encouragement.
Before you dismiss this as pabulum or psychobabble, let me assure you that there is extensive empirical evidence and hard science to back up this assertion. I have referenced these at the end of the column. |
|
Read more...
|
|
|
Written by Marc J. Krasney, P.C.
|
|
Q. I recently fired an employee for dishonesty (stole from the company) and have not paid her final check. This ex-employee owes the company as much as I owe her. I want to simply break even and not pay her. Can I do this?
No, unless you have a court order, are authorized by law or have a written authorization from the employee. Employers are governed by the Texas Payday Act which clearly states that an employer must pay an employee for time worked furthering the business. Failure to pay could result in penalties.
The best way to avoid any problem like this in the future is to have a written employee manual outlining reasons for termination and the procedure the company follows. Further, it should state that the employer is entitled to deduct from the employee’s paycheck any amounts owed the employer (i.e. for loans, uniforms, insurance, etc.). The employer should document the employee’s file and include the receipts and evidence for any stolen merchandise.
Q. Can I prohibit my employees from sending or receiving personal emails while at work?
Yes, so long as you have a well documented employee manual that puts the employee on notice of your intention of limiting personal emails. The employee manual should be signed by the employee upon receipt. This will enable the employer to enforce the rule. Also, it is important to note that the employer must enforce the rules fairly and show no favoritism. The employer must also be flexible with the personal needs of its employees to ensure retention. It is a tough balancing act but can be done.
Q. I have heard you talk a lot about terminating employees and want to know what at-will employment means? I thought I could fire an employee for whatever reason. |
|
Read more...
|
|
| | << Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
| | Results 19 - 27 of 85 |
|
|
|
 |
|
|
