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Showing posts with label Liability. Show all posts
Showing posts with label Liability. Show all posts

Accomplice Liability

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Florida Vehicle History Report - Accomplice Liability

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Do you know about - Accomplice Liability

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Accomplice liability is one of a number of ways that prosecutors can expand the scope of a crime and include more individuals who were potentially involved in the crime. Accomplice liability, which can also be called aiding and abetting or complicity, is based on making an individual who helps or even merely encourages the commission of a crime. Accomplice liability is sometimes confused with conspiracy in that they both require a number of people to work together in the commission of a crime. The difference between accomplice and conspiracy is that conspiracy requires an agreement whereas accomplice does not.

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How is Accomplice Liability

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An accomplice must, in some way, actively participate in the commission of a crime, even if the person does not actually take part in the actual criminal offense. For example, in a bank robbery, the person who actually points the gun at the teller and asks for the money in the bank is guilty of armed robbery. Many bank robbers do not act alone though and so those that helped by playing the role of look out or providing the getaway car are accomplices, even though the actions taken by these people, without their buddy's robbing of a bank at gun point, do not constitute illegal actions or crimes.

Accomplices are different from accessories. Accessories are usually not actually present at the commission of the crime and are typically subject to lesser penalties than the accomplice or principal would receive. An accomplice is actually present when the crime is committed and can be prosecuted, potentially, even if the main criminal, known as the principal, is not charged or convicted.

At law, an accomplice is assigned the same degree of guilt as the person who he or she assisted in the commission of the crime. The accomplice is also subject to prosecution for the same crime and faces the same criminal penalties.

Where the crime is available, aiding and abetting, or accomplice, generally requires three elements for successful prosecution. The prosecution must be able to prove that there was an underlying violation by a principal, the accomplice had knowledge of the violation and or the intent to facilitate the violation, and that the accomplice assisted the principal in the criminal violation.

Accessories differ from accomplices in that they are assigned a lower level of guilt and cannot be prosecuted or convicted if the principal is not convicted. The accessory also cannot be convicted of a crime greater than that of the principal or receive a harsher punishment.

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Limited Liability Company Advantages and Disadvantages

Florida Vehicle History Report - Limited Liability Company Advantages and Disadvantages

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Do you know about - Limited Liability Company Advantages and Disadvantages

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Choosing the correct business structure is vital to your business. The following are advantages and disadvantages of forming a Limited Liability Company (LLC). LLC's are a new form of business entity. The first LLC act in the United States was in the State of Wyoming in 1977. In 1980 the IRS issued a private ruling indicating it would treat the LLC for tax purposes as a partnership.

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LLCs provide limited protection to members by reducing personal liability. The members are not personally responsible for debits and liabilities of the company. Creditors cannot pursue members' personal assets (i.e., home or vehicle) to pay business debts.

LLC's can be taxed in several ways - as a pass-through entity, partnership, or corporation.

An LLC is a "pass-through" entity - meaning the LLC has no tax; it is passed through to the members.

Forming of an LLC is flexible. An LLC may be formed as an entity to appear as a partnership or as a corporation depending on the preferences and requirements of the person creating the business.

Easy management style, the compliance requirements for an LLC are less formal compared to a corporation.

Because the LLC is a separate entity, a new and separate credit profile that is distinct from a personal credit profile.

Having the "LLC" as part of your company names improves the creditability of your company with vendors, partners, and potential customers.

Ease of transferring ownership.

An LLC is not restricted to a maximum number of stockholders.

LLCs attract investors easier than a sole proprietorship.

Limited Liability Company - disadvantages

Along with advantages associated with the creation of a Limited Liability Company (LLC), there are disadvantages. Disadvantages associated with an LLC are as follows:

LLCs are still a new option in many states. Wyoming and Florida were the only states that had LLC structures in place prior to 1990. Because this is a relatively new option, the establishment of LLC is still evolving and there is very little case history in courts.

In some states LLC have a limited lifespan - not to exceed 30 years.

Interstate business is more complicated. Laws governing LLCs may vary widely from state to state. An LLC must be formed to each state where a company does business. Each state requires forms completed specifically for their state. Each state requires filing fees for forming an LLC. These fees vary from state to state. Filing fees range in price from to 0.

Many states impose ongoing fees for LLCs such as an annual report and/or franchise tax fees. Alabama, California, Kentucky, New York, Pennsylvania, Texas, and Tennessee levy a franchise tax on LLCs.

Transferability of ownership is harder to transfer than a corporation.

An LLC while being cheaper and easier to setup than a corporation, but they are more complicated and expensive than setting up of a partnership.

The money invested in an LLC is limited. The money that is invested in an LLC must come from the members and the members cannot raise capital for the company from sources outside the company.

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