In last week’s bLAWg post, I discussed the remote working trend and how some industries are adopting it permanently. Remote work is changing the way businesses operate. Obviously, one critical area is employer-employee interaction. Today’s post provides a listicle of some of the compliance and legal issues to consider when preparing a permanent work from home plan for your employees.

The Listicle

Consider the following items and questions if you are considering remote working for your business:

Foreign Business Registration

  • If employees are working from another state, you may have to register your business as a “foreign” entity.
  • Registration requirements are different for each state. If you have to register, then it is a likely bet you will have to consider taxes, and labor and employment laws of the new state.
  • Some states and counties also restrict the type of businesses that can operate in residential areas, so if your employee is going to set-up shop at home, you may have to get a permit depending on what they are doing.

Taxes

  • If an employee is working outside of the employer’s state of operation the employer may have to pay the taxes of that state, for instance payroll and withholding.
  • Employees should review the way they receive benefits from their employer and where they must file income taxes with a tax adviser/preparer.

Labor and Employment

  • Workers’ compensation and general liability insurance
  • TDI
  • Discrimination
  • Disabilities accommodation
  • Occupational health and safety
  • Privacy and HR records access
  • Meal and rest breaks
  • Overtime/wage/compensation
  • Expense reimbursements
  • Benefits
  • Restrictive covenants

Privacy & Security

  • Review the current IT set up and policies to implement for remote working.
  • Are you having employee’s set-up a home office? Are they using their personal devices or a company-issued one?
  • How are they accessing/sharing files?
  • How would your customers/clients feel if they know your workers are accessing sensitive information in a remote location?
  • How are you monitoring communications? Are you having Zoom calls with your workers while family members are in the room?

Employment Agreements and Policies

  • Employment agreements are covered by labor and employment laws; however, employers are legally allowed to contract away liabilities or make other arrangements.
  • What happens to the written relationship when the worker moves to a more protective or less protective state?
  • You may have signed in California, but can you enforce in Hawaii court? What provisions are you enforcing?
  • Workplace policies created to be compliant for one state may not apply to remote workers scattered across the globe.
  • Review, discuss, and revise/amend where necessary.

As Always Do Your Homework and Consult with Others

The above listicle is not meant to be exhaustive. As with everything with the law it will be a case-by-case basis. This is especially so with a highly valued or professional employee negotiating for this change.  It is best that you conduct your research and plan accordingly. You will need to understand all the laws in your home state and the state that the employee will be remotely working in. Especially, when it comes to HR and employment, the labor laws can differ vastly from state-to-state in their worker protections, insurance requirements, etc. Last week’s bLAWg post listed some advisers you should consult with when making this decision.

Thoughts and Questions

Is your business currently thinking of transitioning to permanent remote work? Do you think it is worth it for all the planning needed? Do you have questions about compliance/legal issues? If so, then contact us at admin@hewbordenave.com. Check back next week and I’ll discuss some of the questions I’ve gotten about remote working.

DISCLAIMER: This post provides general information, but does not constitute legal advice in any respect.  No reader should act or refrain from acting based on information contained in the post without seeking the advice of  an attorney in the relevant jurisdiction.  Hew & Bordenave, LLLP expressly disclaims all liability in respect to any actions taken or not taken based on the contents of this post.

Generally, when larger companies change their workflow arrangement to comply with new regulations, small and medium-sized businesses tend to follow suit. Remember your email inbox when the largest retailers and social media giants updated their web/app privacy policies in the face of the General Data Protection Regulation (GDPR)? Smaller companies then tended to follow suit by updating their own privacy policies because they were following what bigger companies were doing. Will the same happen for remote working?

Trending Toward Remote Working

COVID-19 has accelerated the work-from-home/remote working trend. First, several of the tech giants (as well as other larger companies) have turned the temporary policy in to a permanent one. Also, newer companies that rely on professional, administrative, and tech workers were already leaning into utilizing less office space to reduce overhead costs.

Many industries have grown and thrived during the stay-at-home orders. Others have re-invented their business due to people spending most or all their time at home. For example, why offer a gym membership, or an on-site gym when customers are buying at home workout equipment?

Our firm allowed for remote working prior to COVID-19 and may continue to allow it into the foreseeable future. Employees in general may in fact enjoy the flexibility working from home allows. I’ve noticed that stay-at-home workers are now launching their Twitch stream, lifestyle YouTube channel, or other streaming platforms. Will workers even want to go back to traditional office settings once things return to “normal?” Answers depend, and may be divided.

Some Food for Thought for Hawaii and Remote Working

The trend causing remote working presents interesting opportunities for Hawaii. As certain industries close and people move away, this will create space for others to move in. It is true that the cost-of-living here is high for current residents. However, for those moving away from even more expensive zip codes or for higher income individuals wanting to return home, Hawaii might now be an option. I find tech workers, lawyers, accountants, and for others who can comfortably do their job almost entirely remotely, that the “cost of paradise tax” is manageable. I discussed potential legal issues with a telehealth specialist who would be directing calls to another state, but operating their practice from their home office here in the islands.

Even prior to COVID-19, the state government was keen on emphasizing other sectors beyond tourism. The question is whether law and policymakers at the state and county governments decide to lure companies and workers by either restructuring compliance issues, or creating new incentives. This is nothing new, as many have presented ways for Hawaii to diversify the economy by offering incentives, such as Act 88, and content production.

Ask for Advice

Businesses must adapt. As a transactional attorney, I have assisted business owners with strategic relationships. I have received inquiries about legal issues allowing employees to work remotely. Usually, in the context of having to alter operations in the face of COVID-19 restrictions. While, remote working is an option, if you are changing the relationship, you should do some research and planning prior to implementing. Permanent work from home can reduce the costs, such as commercial space rent, but presents new challenges. One of the biggest is an employee moving out of state to work, whether temporarily or permanently.

Always consider consulting your usual advisors:

  • Attorney – possibly several due to jurisdiction and subject matter issues
  • Accountant – taxes
  • HR Consultant – best practices for communication, etc.
  • IT – review software, hardware, and internet access needed for remote work

Also, consider speaking to others for insight. Possibly, a mentor or another business owner that took the plunge. Check back next week for my listicle of some compliance issues to consider for remote working implementation.

In the meantime, what do you think? How do you think remote working will impact Hawaii? How are you adapting to deal with changes in the economy and your workers? Contact us at admin@hewbordenave.com to let us know your thoughts.

Last week the City and County of Honolulu announced the expansion of the Small Business Relief and Recovery Fund (SBRRF) and has added $75 million to the program. Businesses may qualify for up to $50,000 in reimbursement grants.

Business owners that missed the first round of SBRRF should consider applying this time, and those who applied in the first round can apply for a second time. Wondering if you qualify or when the application opens? See the guidelines below.

Who Qualifies:

  • O‘ahu businesses with $5 million or less in annual revenue
  • Must operate in a commercial space prior to March 2020
  • Farmers and agricultural land or commercial fishing companies may qualify
  • 501(c)(3) or 501(c)(19) nonprofit groups
  • Owner must be Hawai’i resident and business must be located in Honolulu

When to apply:

  • September 21, 2020 – Businesses with annual revenue less than $2 million
  • October 1, 2020 – Businesses with $2 million to $5 million in annual revenue

These grants are a huge help to the businesses that remained closed during the multiple stay-at-home orders. For further information about the Small Business Relief and Recovery Fund visit, OneOahu.org.

Honolulu Plans Re-Opening with Complex 4-Tier System

For Honolulu-based businesses, Mayor Kirk Caldwell announced earlier this week a 4-tier framework for reopening O‘ahu. The tiers are based on the COVID-19 case amounts and positivity rate.

What is reopening in each tier?

  • Tier 1 began today with limited business openings. Some of the businesses opening with restrictions are retail, hair and nail salons, and restaurants. In tier 1 public gatherings of up to five people who are not from the same household is allowed. Keep in mind the exception of restaurants, where parties of only five from the same household are allowed.
  • Tier 2 would allow arcades at 25% capacity, as well as gym and fitness facilities. Personal care services will be allowed.
  • Tier 3 would see many businesses increase from groups of 5 people allowed to 10 people, such as real estate services, restaurants, and commercial attractions.
  • Finally, Tier 4 is still not full capacity and a “return to normal,” but group amounts increase to 25 people for businesses like bowling, tours and skydiving, and restaurants.
  • Unfortunately, bars and night clubs remain closed throughout Tiers 1 – 3, and even for Tier 4 it is TBD.

There is a lot to digest in this tiered-system. It is best to review for your personal, and business choices. To see the full reopening strategy, visit this website.

With many changes in regulations, people may be confused or see potential loopholes/pitfalls. Additionally, business owners have to worry about  noncompliance, and liability to their workers and customers in navigating these tiers.

Do you understand the new reopening 4-tier system? Do you have questions about how it applies to you? Or underlying liability issues?  Let us know by e-mailing us at admin@hewbordenave.com.

Are you considering taking advantage of the President’s Executive Order for payroll tax cut? If so, just understand it defers Social Security taxes till the end of the year. Defer means the deferral amount has to be paid back. So that deferred amount, over 4 months, can create a large tax liability.

For employers, first consider that the deferral is permissive, that you are not required to defer. So business owners should consider continuing to withhold payroll taxes from paychecks as they normally do rather than deferring if the payback is of concern to their employees.

For employees, if you are in a situation where payroll tax withholding is deferred, then it is up you to be accountable by managing your spending, and saving the proper amount to payback the deferred payroll tax. Then for you those of you owners of s-corporations,  that if you are a shareholder-employee, you are also an employee. Therefore, subject to employment taxes and rules.

For general information view this article.

And as always, when it comes to taxes, employee law, HR policies, and structuring agreements consult with your professional advisors.

In a year of chaos, the Covid-19 pandemic, struggles for equality, and a deafening onslaught of political noise, there is another silent yet significant threat to our local communities and families.  Unreported and underreported cases of domestic abuse have risen sharply locally and worldwide.  Some public safety measures, specifically stay-at-home orders, which are designed to protect us from the external threat of Covid-19, are potentially causing an increase of domestic violence at home.  In these instances, both the victim and their abuser are living in the same location, yet with the added obstacle of sheltering-in-place for days or weeks at a time.  As a result, the victims are afforded little opportunity to leave, and it compounds an existing heath crisis even further.

Here in Hawai‘i, the Domestic Violence Action Center (DVAC) is reporting an increase of cases of potential domestic abuse.  Therefore, DVAC has implemented a text and chat feature on their website for discrete and effective accessibility for potential victims. DVAC is committed to stemming domestic violence and abuse through leadership, publicly available services, legal representation, survivor and system advocacy, community education and social change work.

Are you interested in assisting someone who may be in need? Please reach out to anyone you have concerns about to offer your support, make yourself a safe resource, and if at all possible, please consider donating to DVAC.

If you or someone you know needs help, please contact:

  • The Hawaii department of Health Hotline:
    • Call: (808) 531-3371
    • Text: (605) 956-5680
  • DVAC O‘ahu Helpline: (808) 531-3771, or use their website’s chat feature.
  • For emergencies: 911

Please also join DVAC in lighting a candle every Wednesday, from 8:30 – 9:30 p.m., during the month of September to raise awareness for those suffering in silence. Together, we can be a torch for change, and let survivors know we are here and committed to their safety.

Once again, we have a stay-at-home order for O‘ahu, from now through September 23, 2020. There are some new exceptions carved out in this order, which should involve a personal risk/reward analysis.  For example, you are now allowed to go hiking, but only “solo.” This means you may not hike in any size group, even if you practice physical distancing and wear PPE. Certainly, we all want to get out of the house, however, common sense should compel you to think hard about going on an intermediate or advanced hike, with no partner, even if it is technically permitted under the new rules. Bringing your phone may not be enough either, because not all carriers have service in every valley or corner of the island.  As such, if you want to go for a hike, perhaps tone it down and play it safe for the time being.

Check out these five safety tips from Oahu Search & Research (OSAR):

  1. Do Your Research
    • Review this website for trails
    • Note, that in Hawai‘i only marked State trails are considered legal for hiking
  2. Check the Weather
    • Check the forecast in advance and day of
  3. Pack Your Bag
    • Map & Compass
    • Sun Protection – sunscreen, hats, long sleeved shirts, and pants
    • Extra Layers
    • Flashlight
    • First Aid Kit
    • Fire Starter
    • Repair Kit
    • Extra Food & Water
    • Emergency Shelter
    • Signaling Device – whistle, mirror
  4. Share Your Plan
    • Be sure a friend always knows where you are going, and when you will be back, especially if you are hiking alone (which is something OSAR strongly discourages)
  5. If Lost: S.T.O.P
    • S: Stop/Sit – take a break
    • T: Think – analyze the situation
    • O: Observe – note surroundings and resources
    • P: Plan – create a plan based on your observations

Be smart, be prepared, and stay safe!

As more residents are moving to urban areas such as Honolulu to reduce their commute time to and from work, alternative modes of transportation including walking and bicycling have increased in popularity, especially with the introduction of biki – a bikeshare service. The City and County of Honolulu is implementing the Complete Streets program to improve the safety, accessibility, and comfort of transportation alternatives for all users, while encouraging physical activity.

According to the Hawaii Department of Transportation there were two bicycle fatalities in Honolulu in 2019. Did you know that using a bike helmet can reduce the risk of head injury by 85 percent? Wearing a helmet is just one of the ways you can protect yourself while riding a bike.

Check out Bike O‘ahu’s Top Ten Bicycle Safety Tips

  1. Wear a helmet every time you ride. The State of Hawaii requires all bicyclists under 16 years if age to wear a helmet.
  2. Obey traffic laws. Your bike is a vehicle, and just like a car, you must stop at stop signs and red traffic lights.
  3. Always ride with the flow of traffic. It is unlawful to ride facing traffic in Hawai‘i, as it is in all 50 states.
  4. Stop at the end of the driveway. Many crashes between a car and bike happen when riders don’t stop at the end of their driveway to look for cars. Always look left-right-left before entering or crossing a road.
  5. Be predictable. Don’t do anything that would surprise drivers, such as swerving in and out of parked cars or traffic.
  6. Look behind you, and make sure it is clear, before making a left turn or moving into the roadway. You should be able to glance over your shoulder without swerving. Also, let motorists know what you’re doing by using proper hand signals for turning and stopping.
  7. Be visible. Wear light-colored clothes when you ride. If you ride at night, you must have a white front light and a red rear reflector.
  8. Don’t use headphones when riding. You need to be able to hear the traffic around you.
  9. Don’t ride too close to parked cars. A driver may suddenly open the door in your path. Leave at least 3 feet of distance when passing parked cars, and be alert for cars that may be pulling out into the road.
  10. Make sure your bike is safe. Before you leave home, check to make sure that the brakes work, the seat and handlebars are tight, and the tires are properly inflated and in good shape. Also, make sure your bike is the right size. A bike that is too big is more dangerous than one that is too small.

For more information about bicycle safety connect with the Hawai‘i Bicycling League at 735-5756 (www.hbl.org.) You can also find bike laws on their website.

The Complete Streets program will identify and design solutions that balance the needs of all users and modes in the urban core, including pedestrians, vehicles, bicyclists, and transit patrons. Bikeway improvements will be made in Downtown, Chinatown, and Ala Moana-Kakaako areas. A recent project on Pensacola Street has implemented a Two-way protected bike lane from Wilder Street to Kapiolani Boulevard on the Diamond Head side of the street. These bikeway improvements will make our streets safer for both bicyclists and motorists.

We are one week in to the second stay-at-home work-from-home order. The order began August 27 and is currently set to end on September 9. To ensure that the order does not get extended, please do not gather with those outside of your household. Keep this in mind especially with the upcoming Labor Day weekend. Also, follow the CDC guidelines of wearing a face covering when in public spaces, maintaining 6 feet distance from others, and frequent hand-washing.

The new order has many of us questioning what we can and cannot do. Confused about what’s open and closed? See the below list:

Open

  • Essential Businesses
  • Restaurants: take-out or delivery
  • Public Schools, UH Manoa
  • Child Care
  • Construction
  • Religious services, graveyards

Closed

  • Retail Businesses/Bars
  • Personal Services: Hair salons, Tattoo Shops
  • Beaches
  • City & state Parks/Hiking Trails
  • Gyms
  • Golf Courses
  • Private Schools

As an essential business we are open with new operating procedures. We have adjusted to a rotating work schedule. Only two staff members will be present in the office at a time for social distancing measures, while the rest work remotely. We are available to assist you by phone, e-mail and ZOOM conferencing (upon request) during our normal business hours.

Unfortunately, during the first stay-at-home work-from-home order many local businesses had no choice but to shut down. It is anticipated that this new order will lead to more closures. As we work with many small to medium sized business owners in Hawaii, we understand the stress that is caused when making the call to close shop permanently.

If you are considering closing your business, check out our two latest blog posts Throwing In the Towel: Legal Issues to Closing Your Business – Part 1 and Part 2. We hope to be a source of information for you during these uncertain times as we provide a variety of free resources including, blogs, videos and webinars.

Stay safe and healthy!

In last week’s bLAWg: Throwing in the Towel: Legal Issues to Closing Your Business – Part 1, I discussed the duties and obligations of closing a business. If you have recently decided to close your business or are looking for alternative options to closing; the below checklist should provide a basic map of what you need to consider. Remember each business is unique and do not consider the below checklist a substitute for professional advice or as a definitive, exhaustive list.

What steps should I consider to Close my Business?

When closing your business, you want to take time to plan things, and a checklist helps organize that process. In general, the goal is to account for assets and liabilities, and make sure you are using the business assets to pay off its liabilities. You want to eliminate liabilities, prior to dissolving the corporation or terminating the LLC. Consider the following:

  1. If you have advisers, you should talk to them as they can assist or offer advice
    • Attorneys, accountants, Bankers, HR specialists, Financial Advisers, Business Mentors
  2. Sell off your inventory and collect on your accounts receivables – consider during this pandemic you may have to discount or negotiate as cash for others is also tight
    • Finish off your obligations to your clients/customers
  3. Provide notice to the major creditors or those businesses that support your operations;
    • Bank, lenders, suppliers, service providers, and utilities
      • Time your cancellation of credit cards and subscription services
      • Prepare to close your bank accounts
    • Landlord – in this case you may wish to review your commercial lease as these tend to be lengthy conversations depending on the terms
  4. Discuss with your employees and pay them out, and remember payroll deposits
  5. Liquidate everything else possible*
  6. Settle and paying off your debt, as much as possible**
  7. Do Accounting and Recordkeeping
  8. Pay off ALL taxes or prepare what you will need to file for returns
    • For example, in Hawaii, if you sell off all your inventory or certain other assets there is a Bulk Sales Tax Form
  9. Cancel permits and licenses with appropriate government agencies
  10. Consider providing contact information for forwarding purposes related to the closing business so people may contact you if you miss taking care of something
  11. If there is any money or other assets leftover review the internal governance documents (like an Operating Agreement for LLCs) and divvy up accordingly to the business partners – yes, this comes toward the end
    • Overpaying yourself to the detriment of creditors or taxes you owe is again subjugating yourself to personal liability
  12. Dissolve the Corporation or Terminate the LLC – ideally, after this you should be done with your business

What’s with the asterisks? Are there other options?*

Strategically, the decision by a business owner to close just means they are personally done with the business. However, consider just because they do not see value in continuing operations that doesn’t mean there is not value in the business. Consider that you could sell the business or its assets to another. For example, maybe a new restaurant owner wants a deal on kitchen hardware, or the landlord is willing to assign the lease to someone who wants to take over the space. Or consider a budding entrepreneur that sees an opportunity to take an established business and rebrand, so selling off the intellectual property and brand to them.

The bottom line is just closing, selling off assets, and squaring away liabilities, does not have to be the only route. While it is likely the case during COVID-19’s economic downturn that your business will not be as valuable as you want, sometimes you being done with your business does not mean its assets, operations, or brand cannot be of value to another.

What if my Debts and Liabilities are More than My Assets? What about Bankruptcy? **

According to the U.S. Bankruptcy Court in Hawaii, 151 residents and businesses filed for bankruptcy protection in June (up 22%). In July, Hawaii bankruptcies flattened to 140 which is just two fewer than the previous year’s findings. Although, federal and state assistance programs have helped during the shutdown, filings may continue to rise during the next few months and even into the next years as aid slows down and ends.

In instances, where you are truly underwater and the debts and liabilities appear to be insurmountable and/or the creditors are not budging in negotiations where they are demanding the full amount and you cannot pay, then yes, the other option is bankruptcy. If this is something you are considering, then understand that this is an even more significant decision than just closing your business.

Some of the steps to filing for bankruptcy include compiling financial records, credit counseling and filing the petition. Consider working with a bankruptcy attorney to make sure you understand what is required to file for bankruptcy, and feel free to contact us for referrals in the Honolulu area.

Anything Else to Consider?

None of the foregoing comments and lists are exhaustive. Every business, and its business owners are unique and may sometimes have special circumstances. If you have a situation that needs specific legal advice, then consult with an attorney, as soon as possible.

However, if you are still considering your options or want to learn more about the steps to close a business and alternative options, then consider joining our upcoming webinar – Throwing in the Towel: Legal Issues to Consider for Closing Your Business on Thursday, September 3, at 12 pm HST. Register here!

DISCLAIMER: This post provides general information, but does not constitute legal advice in any respect. No reader should act or refrain from acting based on information contained in the post without seeking the advice of an attorney in the relevant jurisdiction. Hew & Bordenave, LLLP expressly disclaims all liability in respect to any actions taken or not taken based on the contents of this post.

Are you a business owner thinking of closing your store, restaurant, or bar? You are not the only one who has thought about it. In fact, many already have.

In Honolulu, walk around any neighborhood whether it is Downtown, Kalihi, Haleiwa, or Mōʻiliʻili and you will see that some businesses are gone. In some cases, for good. Surveys conducted indicate that approximately 900 businesses in Honolulu have closed either permanently or temporarily since the COVID-19 pandemic has started. Additionally, we know that the pandemic is not subsiding prompting the government to step up its regulations. Just recently bars on Oahu have been forced to close for an additional three weeks due to Mayor Caldwell’s Emergency Order 2020-23.

This post is for those thinking that it might be best to get out of the business they are currently in and some of the legal issues they must consider before “throwing in the towel.”  

The decision to close your business is not something to take lightly. While, you may have been one of those people that woke up one day and said, “I’m going to start a business,” while learning how to run the business along the journey. This wisdom and experience should have also taught you that the process of closing a business is not necessarily easy or straightforward. It is a process.

The worst decision to make is running and hiding from responsibility or closing too quickly without wrapping up your duties and obligations.

What are my Duties and Obligations?

If you’ve been running a business for several years, especially one that has some physicality to it, such as a storefront, inventory, or employees that report to you, then you realize all the responsibilities you have. First, you should make a checklist of the relationships that you as the business owner and the business itself has with others. This will help you map out all the people you will need to deal with as you wind down operations and move to closing the business. Especially, if you have an LLC or corporation that exist, then understand that your limited liability protection comes from the fact these entities are separate legal persons from the owners. The entity is on the hook for some of the contractual obligations and duties set at law.

Ask yourself about these relationships and what contractual and/or legal obligations and duties you have to:

  1. Business Owners – who needs to decide to go through with closing the business? Consider business entities that require votes by the partners, members, or shareholders to formally begin the process.
  2. Customers/Clients
  3. Vendors/Suppliers
  4. Landlord
  5. Financial Institutions, Banks, and Credit Card Companies
  6. Utilities and Service Providers
  7. Other Lenders (e.g. friends and family give you a loan?)
  8. Employees and Contractors
  9. Federal, State and County Governments (e.g. your taxes, licenses, and permits)
  10. Outstanding Lawsuits (if your business is currently in a lawsuit you may have to delay your plans of closing the business till this is resolved)
  11. Business Owners (e.g. if you are Managing-Member of an LLC members group, you have certain obligations to them prior to closing the LLC)
  12. Anyone other creditors

Consider that anyone of these may have a cause of action (lawsuit) against you or the business if you do not properly deal with them. Many of them are creditors and in some instances if you don’t pay or do what you are supposed, they will sue you to attempt collect their money. Did you give your customers coupons to use? Did you buy inventory on credit? Is the credit card paid off? How long is left on the term lease? Do you have enough money to cover payroll? And so forth.

The business owner is responsible to figure out how to end these relationships and the outstanding liabilities on them. However, what you should not do is run to dissolve the business entity first just because the liabilities are so big and onerous.

Why is Proper Notice so important?

Too many times I have seen LLC members think it is a good idea to terminate their LLC when they have not notified their creditors. They don’t understand doing the “hard stuff,” that is notifying creditors is really saving them from personal liability. They have a duty to notify creditors that they are closing to limit debt, not terminate the LLC and run and hide. This latter choice creates personal liability – in effect, you are causing the business entity to cease to exist without taking proper steps, thus eliminating the limited liability shield.

Anything Else to Consider?

None of the foregoing comments and lists are exhaustive. Each business, and its owners are unique and may sometimes have special circumstances. If you have a situation that needs specific legal advice, then consult with an attorney, the sooner the better.

However, if you are still considering your options or want to learn more about how to close a business, then consider joining our upcoming webinar – Throwing in the Towel: Legal Issues to Consider for Closing Your Business on Thursday, September 3, at 12 p.m. Register here!

Also, stay tuned for our bLAWg next week, that will cover: (i) a checklist of steps to consider when closing your business; (ii) other options instead of closing your business; and (iii) what to do when the business’s debts and liabilities vastly exceed its assets.

DISCLAIMER: This post provides general information, but does not constitute legal advice in any respect. No reader should act or refrain from acting based on information contained in the post without seeking the advice of an attorney in the relevant jurisdiction. Hew & Bordenave, LLLP expressly disclaims all liability in respect to any actions taken or not taken based on the contents of this post.