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Our business blog focuses on issues affecting Virginia, D.C. and Maryland business owners as well as those in other jurisdictions throughout the country. We provide timely insight and commentary on federal and state rules and how they affect you. If you are interested in having us cover a specific topic, please let us know.

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  • Posts by James Irving
    Shareholder

    James Irving is a shareholder of Bean, Kinney & Korman.  Jim’s practice areas include business counseling and entity formation, contracts, purchase and sale agreements, shareholder or membership agreements, non-competition ...

LLCs and Subchapter S Corporations share a number of characteristics. Chief among them is that each provides participants – shareholders in a corporation, members in an LLC – with insulation from personal liability while avoiding the “double taxation” associated with C-Corporation status.  Double taxation means that a C-Corporation pays taxes on profits and its shareholders pay taxes on distributions. However, Sub-S Corporations do not pay taxes at the corporate level.

June 2017
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Topics Employment

Judge Liam O’Grady of the U.S. District Court, sitting in Alexandria, has found a non-competition agreement overbroad and unenforceable because its geographical component was defined by an irrelevant factor that resulted in a zone of prohibited competition that was indefinite in geographical range. The non-compete in NVR v. Nelson prevented the defendant / former employee from, among other things, providing competing services anywhere he had obtained Confidential Information during the 24 months immediately preceding his termination.