Bylaws Template Membership Bylaws Template: Fill & Download for Free

The people you meet with: your school district’s athletic director and your school’s principal, but first read this advice given at The National Federation of State High School Federations. The page gives you the blow by blow steps at this link: https://www.nfhs.org/articles/ask-the-athletic-director-adding-a-new-sport-to-your-program/You have already accomplished at least one of those steps. Here are the links you should follow before meeting with them though:“It is the US Lacrosse mission, with the aid of local US Lacrosse chapters, to help you add this exciting sport to your community. The US Lacrosse New Start Manual is designed to guide you, step-by-step, through the process of establishing a new youth or high school team.”“US Lacrosse highly recommends clicking on the links below to learn how you can effectively and responsibly cultivate the sport in your area:”New Start ManualLocal Chapter SupportSchool Presentation PowerpointChecklist for Forming a Non-Profit OrganizationNon-Profit ProvisionsBylaws TemplateBylaws MemorandumUS Lacrosse MembershipInsuranceDiversity & Inclusion GrantsUrban Lacrosse Development GuideHealth & SafetyRulesUS Lacrosse Coaching Education ProgramParent Education

“What is it like to be a small business owner in Norway? What makes it good? What are the challenges?”As a small business owner in Norway for the last 18 years, here are the pros and cons I have experienced:PROSNo need to visit government offices - since I founded my first company, all forms have been transformed from paper to electronic, and this is all handled through a secure online portal where you log in with your personal registration number (similar to e.g. social security number in the US). There are several options for verifying your ID, including SMS codes, dongles and authentication apps. A last option is to request a paper letter with codes, most often used to log in the first time and set up an electronic solution.Simple bureaucracy - the required paperwork is quite minimal. In order to start a small business, you need bylaws and an opening balance in the case of an Ltd. There is a requirement that the opening balance is confirmed by an auditor or accountant, but otherwise you don’t need any stamps or approvals.Low capital need - the minimum liable capital for an Ltd. has been changed from 50k NOK (in the 90s) to 100k NOK (in the 2000s) to only 30k NOK (since around 2015). This is the amount that needs to be confirmed by a licensed third party as paid into a bank account or existing in the form of tangible assets.Transparent and relatively simple legal requirements - in my case, I’ve never needed a lawyer to prepare documents or forms to comply with regulations. There are document templates for bylaws, invitations to, agendas for and minutes from annual shareholder meetings, board meeting agendas and minutes, etc. It is easy to verify that these comply, since all relevant laws are available online, and they are short and to the point.Simple VAT rules. We have some special rules for VAT for mass media, transportation and food, but unless your small business is in one of these industries, you only need to deal with the common VAT rate of 25%. I’ve never needed to consult an accountant or auditor in order to clarify how to do business or ensure that I am complying with VAT regulations.Simple rules and procedures for employment and wages. There are clear regulations and a standardized way to register, report and pay out wages, as well as deduct taxes and pay these to the tax authorities. You can do it yourself if you want, but most ask an accountant to do the payroll services.Simple rules for issuing invoices and keeping books. You can do this yourself and there are free programs available, but again, most hire an accountant simply because they prefer to spend their time developing their business. The main point is that the books are easy to understand and inspect.No need for health insurance for workers. Health insurance is covered by the government, financed by taxes. This is so obvious to us, that I wouldn’t even have mentioned it if it wasn’t for paying attention to the debate in the US over the past decade, and understanding the situation there, which is really not understandable for us. The obvious benefits of cost reduction for consolidating health services makes this much less expensive, in fact free for companies.Simple rules for perks. Covering mobile phone subscriptions and internet connection for home offices is now pretty standard fare, and the tax rules specify a fixed rate for these, rather than needing to provide invoices etc. Many companies, especially larger ones, also offer additional private health care, gym memberships and so on as part of an attractive total package for employees, but this comes down to competition and not legal requirements.Beneficial VAT rules. The 25% VAT, as mentioned above, is quite high, however this is the same for all companies selling on the domestic market and doesn’t affect business. Additionally, small companies will be able to deduct VAT on their expenses and even get a reimbursement until their sales surpass the initial costs, which improves cash flow and revenues. For exports, there is no VAT, like for other countries.We are outside the EU for VAT purposes, which actually gives Norwegian companies a competitive advantage compared to companies registered there, and doing business in EU is fairly simple due to our close integration with the EU markets.CONSMedium to high taxes. The general tax level for companies is 24% (from 2017). This is higher than in many countries, but also lower than in some countries. I believe that e.g. USA has a higher tax level, especially when you include health insurance costs, which are mandatory there and included in the taxes in Norway.High employer’s tax. In addition to the general tax level for employees, which is quite high (and deducted from their wages), employers have to pay 14,1% employer’s tax. This is reduced in the very northern parts of Norway, as part of a financial stimulus package for that region. Because of this, some companies, especially internet companies, have their registered office there, while the actual infrastructure (server parks) can be located anywhere - and usually much closer to “the rest of the world”. However, the lower rate of employer’s tax only apply to employees actually living and working there.More complicated import regulations. As of 2017, companies need to do more paperwork and payments of customs fees and import taxes than before, when this was handled by the shipping company and you could have an account for such costs that was invoiced at regular intervals instead of for every shipment. Still, this might not be worse than in other countries, I am not too well versed in import regulations outside Norway.I’m sure there are more points to add to this list, but this is what I can think of right now, and I’m also out of time to write more ;-)Hope this helps!

Excerpted from an article by Startup Documents. What is the difference between a C Corp S Corp and LLC? The three types of entities discussed in this article (C corporation, S corporation, and LLC) all partially shield the individual owners from certain types of personal liability, have varying benefits regarding fundraising and stock option grants, have different tax implications, and may provide the company with greater credibility among investors, clients, and customers.Some Legal Implications of Incorporating:Partial protection against personal liability: A corporation or limited liability company (LLC) partially shields individuals (stockholders, directors and officers) from business liabilities such as loans, accounts payable, and legal judgments. We use the word “partially” because of how some courts have decided against completely shielding individual owners from personal liability, even when they did not actively participate in the impugned matter. There is a notable recent case, Irizarry v. Catsimatidis, where the owner, CEO, and chairman of a corporation was held to be an “employer” within the meaning of the Fair Labor Standard’s Act (FLSA) and therefore was held personally liable for millions of dollars in damages in a FLSA collective-action liability. Conversely, the assets of the corporation or LLC may be protected if an individual is involved in a personal lawsuit or bankruptcy.Transferable ownership: Owners of a corporation or LLC may easily transfer ownership to others, depending on specific state requirements.Conversion: Depending on the rules of the applicable state statutes, one type of a business entity may be converted to another (i.e. LLC to corporation) and may even be converted to another state (i.e. from California to Delaware).Taxation: Corporations are typically taxed at a lower rate than individuals. Corporations may also own shares in other corporations and resulting corporate dividends can be partially tax-free. If you have any doubts or tax questions, you should speak with a tax advisor.Duration: Either an LLC or a corporation may continue indefinitely and beyond the lifetime of its owners.Raising capital: A corporation may raise funds by issuance of convertible debts and sale of stock. An LLC may raise funds by issuing membership interests.Employee incentives: A corporation may issue incentive stock options to employees as a form of compensation for their work and tenure. A similar structure may be created for an LLC but it is typically more complicated.Credit rating: A corporation acquires its own credit rating unassociated with the owner’s personal credit rating.C CorporationsA C corporation is the standard corporation structure. An S corporation is a corporation that has elected special tax status. Both of these corporate entity statuses share the following:They have shareholders, directors and officers.Both are required to follow the same internal and external corporate formalities and obligations, such as adopting bylaws, issuing stock, holding shareholder meetings, filing annual reports, and paying annual taxes and fees as required by state law.Articles of Incorporation are the same for both C and S corporations.Both C corporation and S corporation ownership is transferred by the selling of shares.The advantages of C corporations are:Investors typically prefer this form of corporate structure when investing in accelerated growth tech companies due to multiple classes of stock available to C corporations, especially preferred stock. Preferred stock provides preferred returns and further protective provisions.C corporations are also a more favorable setup for employee compensation. A company creating incentive (via stock options) to attract and keep talented employees often prefer C corporation status. C corporations may allow employees to defer tax status on the equity compensation until they sell that initial stock by offering incentive stock option plans, variations of which are possible, but more complicated, in an LLC. Tax-free and tax-deductible benefits are also available to employees in a C corporation (again, check with your accountant on all tax matters).C corporations allow the owners to take advantage of certain provisions in the tax code with respect to exclusion of a certain amount of capital gains and the deduction of certain losses. However, please check with your accountant with respect to these benefits.Non-US citizens or and non-residents are permitted to be shareholders / founders of a C corporation.Since ownership is unrestricted, C corporations are often the best choice for large companies that are or plan to be publicly traded.The disadvantage of a C corporation is double taxation:FIRST at the corporate level on the corporation’s net income.SECOND to the shareholders when the profits are distributed, if corporate income is distributed to business owners as dividends.When a corporation is originally chartered by the state, it exists as a C Corporation. It will remain a C corporation unless the company wishes to elect S corporation status.S CorporationsThe main difference between a C corporation and an S corporation is the taxation structure. S corporations only pay one level of taxation: at the shareholder level. To choose S corporation status, a tax lawyer or accountant may assist with filing IRS Form 2553 and ensuring all S corporation guidelines are met. Since S corporation election is not required at the time of incorporation as a C corporation, a company may wish to momentarily hold off on S corporation election in order to consult with an accountant or tax lawyer.Startup companies will choose an S corporation if the founders wish the benefit of a flow through tax treatment. In other words, a founder can include business losses on their personal tax returns as deductions, which may be particularly attractive during the early stages of a company. A startup can elect S corporation status before the financing stage and revoke S corporation status at the time of a financing. However, S corporation status prevents a startup from having entity (other corporations or LLCs) or non-US citizen/resident stockholders.The disadvantages of S corporations, unlike C corporations, are:Limited ownership to 100 shareholders, who cannot be non-resident aliens, nor can S corporations be owned by other corporations.An S corporation cannot have multiple classes of stock.S corporations are not allowed to conduct certain types of business. Banks and insurance companies are not eligible for S corporation status.S corporations are less flexible than C corporations for employee fringe benefits.S corporations must report employee taxable compensation.Limited Liability Companies - LLCA limited liability company (LLC) blends elements of partnerships and corporate structures. An LLC is an unincorporated association that protects the liability of a company.Startup companies often avoid LLCs because most technology startups seek to grant options to employees and consultants, and it's very difficult to get professional investors interested in investing in an LLC. LLCs provide no standard or easy way to grant such options. A startup may convert from LLC status to a C corporation but, depending on the state, there may be statutory limitations or additional requirements in doing so. Consultancy and bootstrapped businesses, on the other hand, are often the best choices for LLC status.Benefits of LLCs:Flexible management structure. Unlike corporations, LLCs are not required to comply with a formal management structure.Like the C corporation, LLCs have no ownership restrictions and members of an LLC may be non-US citizens and non-resident aliens.Flexible tax regime. An LLC can elect to be taxed as a sole proprietor, partnership, S corporation or C corporation. Using default tax classification, profits are taxed personally at the member level, not at the LLC level.LLCs can be set up with just one natural person (in some states) and thus partially separates the liability of a company from that member.LLCs can offer membership interests in the LLC to employees.Disadvantages of LLCs:Investors may be wary of the LLC structure and prefer the traditional corporate structure of a C corporation or S corporation. This can make raising capital difficult for LLCs.Many states levy a franchise tax on LLCs, which is essentially the fee to pay for the privilege of the LLC status.Renewal fees may also be higher than a C corporation or S corporation.LLCs are not considered corporations for the purposes of civil procedure. Instead, LLCs are treated as partnerships by the courts. This affects diversity jurisdiction. Thus, if a member of an LLC is a citizen of the same state as a member of the opposing party, the LLC may not remove to federal court under jurisdiction (whereas the corporation can).The equity compensation process for employees is not straightforward and standard incentive stock options employed by C corporations are not typically available.Hope this helps. More about us at:Entrepreneurial Success AND Sales Plan & Sales Management Tools & Templates