Minnesota NonCompete Agreements
As an attorney, I get two types of questions related to noncompete agreements:
- Is this contract not to compete enforceable?
- Would you draft a noncompete agreement for me?
1. Enforceability of NonCompete Agreements
Whether the contract is called a “noncompete” or “do not compete” agreement, the intent is the same: the employer seeks to bind the employee from leaving employment and competing with the employer. Whether they are enforceable depends on a number of factors to be analyzed by
Can an LLC be Taxed as an S Corp?
Yes. An LLC can be taxed as an S Corp, assuming it qualifies for S Corp taxation status. An LLC can also be taxed as a C Corporation.
An LLC is a very flexible business type because it can be taxed as a corporation or S corp.
Option 1: LLC electing to be treated as a Corporation
A. Single Owner LLC:
If the LLC has only one owner, the IRS will automatically treat the LLC as if it