The marijuana industry is huge and growing. In 2017, legal marijuana was a $1.5 billion industry in Colorado alone according to data from the Colorado Department of Revenue, and it has been identified by many analysts as one of the fastest growing industries in the United States. To date, 33 states and the District of Columbia have legalized either medical …
Determining who will manage the day-to-day affairs of your business is an important decision. You need to know, at the outset, who will manage operations, both for the success of your business and because the Limited Liability Company (LLC) operating agreement demands it. Luckily, LLC operating agreements are very flexible and the management structure can be tailored for your business. …
You’ve likely protected your business with general liability coverage, property insurance, commercial automobile coverage, and workers’ compensation insurance. But for some businesses, operations would come to a grinding halt without certain essential contributors—key persons as we call them. If your business includes any key persons, key-person insurance should be a part of your business insurance planning. What is a key …
Although the main purpose of a job description is to, well, describe a job – it actually serves a much bigger role. In fact, a job description can improve a company’s ability to manage employees in many ways. A well-written job description will do the following: Clarify expectations. Employers need to spell out their expectations of what an employee should …
Employers often need to perform pre-employment background checks on applicants to assess honesty, criminal background, credit history, military service, school records, and other related matters. While the type of job will generally determine whether to perform a pre-employment background check, and what kind, the following 10 tools should be considered: Credit Reports. Under the Fair Credit Reporting Act, businesses must …
Employee handbooks address the who, what, where, why, and how of your business operations. Your employee handbook will protect you and your business by setting appropriate expectations, and providing consistency for your employees when situations arise. What Information Should an Employee Handbook Include? Ideally, employee handbooks address anything significant related to your company, employees, operating policies, and applicable laws – …
The term “at will employment” may be interpreted many ways by a lay person, but it is actually a legal term meaning that either party (employer or employee) may terminate employment at any time without notice for any reason (with limited exceptions), unless there is a contract stating otherwise. However, a contract may modify that by wording such as “I …
In New York State, there is no requirement for employers to provide sick day benefits to employees (either paid or unpaid). However, Section 195.5 of the New York Labor Law states: “Every employer shall notify his employees in writing or by publicly posting the employer’s policy on sick leave, vacation, personal leave, holidays and hours.” If an employer does not …
I was asked the following question from a local entrepreneur in Central Illinois: What is the law with regard to reimbursing employees for mileage? To begin, Illinois has no laws regarding whether an employer must pay for mileage for business travel. However, if an employer chooses to reimburse for mileage, they should use the rate used by the IRS (currently …
The goal of most businesses is to grow – at least somewhat. However, in order to grow or to be able to step away from the business for a personal life, vacation, or other ventures, you’ll need help with day-to-day operations. If you’ve never hired someone before – or it’s been a long time – don’t worry – here’s the …