Minnesota Sales and Use Tax

Will your business be engaging in sales of taxable goods and services? If so, you will need to collect sales tax for each qualifying item for every transaction. Why are sales tax important to consider when creating a business? Because each city has its own rate, and extra taxes can apply to certain products, while…

Contract 3: Partnership Agreements

There are advantages and disadvantages with starting a business with another person. The clear advantages are the ability to raise more capital, take on more work, have more brainstorming power, and someone who is just as passionate as you are to count on. Most people start businesses with a family member, a friend, etc., basically,…

Contracts 2: Employment Non-Compete Agreement

So, you finally landed the job you’ve always wanted but there is a requirement you don’t quite understand: the employer wants you to sign a Non-Compete Agreement (sometimes known as a Restrictive Covenant, Covenant Not to Compete, or NCC). The most common understanding of a Non-Compete is that it prevents you from being your employer’s…

Contracts 101

More than likely, you have probably signed many contracts in your life, even as a young adult. Surprising? Think about it: every time you sign up for the internet, a gym membership, go through a cell phone carrier, etc., you are likely entering into a legally binding contract. At Thooft Law, we get asked contract…

Let’s Do Business, Part 3: Hiring Employees

Your business is booming and you are looking into hiring employees – that is a great accomplishment and you should be proud, knowing that small businesses provide 64% of the country’s jobs nationwide! In this final part of our three-part series blog, we address the most common questions regarding employees: classification, hourly versus salary, worker’s…