• What is a single member disregarded LLC?

    ADVERTISING By:  Tamara B. Pow, Esq. If an LLC has two or more members, it is treated as a partnership for tax purposes unless it elects to be treated as a corporation.  However, an LLC with only one member cannot be a partnership, so it will be treated as a disregarded entity, like a sole […]

  • Standby Letters of Credit – What are They and What Should They Contain?

    By:  Serge Filatov, Esq. Standby letters of credit are irrevocable agreements for the payment of money.  They function like guarantees of obligations and are usually provided by a bank for the benefit of a beneficiary.  Standby letters of credit are governed by Article 5 of the Uniform Commercial Code (UCC), which in California is found […]