Unlike most of the common business entities that exist today, the LLC has a fairly brief history in the United States. Entities such as partnerships, sole proprietorships and corporations have existed since the founding of the country. The LLC, however, has only existed in a recognizable form for roughly thirty-five years. What, then, led to the creation of this new entity? The single most important reason for the creation of the LLC was what has come to be known as “the tax-shield conundrum.”
This past week, the Federal Trade Commission (FTC) “proposed a new rule that would prohibit employers from imposing noncompete agreements on their workers, a practice it called exploitative and widespread, affecting some 30 million American workers.” While this proposed rule is not official yet, the potential eradication of noncompete agreements creates room for widespread economic […]
“Yes. However, for many years state legislatures gave more representation to large, sparsely populated rural districts than to smaller, heavily populated urban districts. In Baker v. Carr (1962), the Supreme Court ruled that all legislative districts must be equal in population, on the grounds that qualified voters were no more or less so because they […]