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Host: Scott LaMar

Smart Talk: Cruz born in Canada -- what Constitution says; SCORE Lancaster

Written by Scott LaMar, Smart Talk Host/Executive Producer | Mar 24, 2015 2:01 PM
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Photo by Scott LaMar/WITF

What to look for on Smart Talk Wednesday, March 25, 2015:

For those on the job search, the Office of President of the United States has perhaps some of the least demanding prerequisites.  The U.S. Constitution lays out just three qualifications: You must be a native-born U.S. citizen, be at least 35 years old and have lived in the United States for at least 14 years to be president.

Texas Republican Sen. Ted Cruz, who announced he is running for president this week, was born in Canada, but experts believe Cruz can run.

On Wednesday's Smart Talk, we discuss what the Constitution says about qualifications to be president.  Joining us is Sarah Helene Duggin, Professor of Law and Director of the Law and Public Policy Program for the Columbus School of Law at the Catholic University of America.

Also, SCORE Lancaster is a non-profit organization that uses mentors to help entrepreneurs start a business and existing businesses to be successful and grow.

On Smart Talk to discuss the keys to a successful business are Jerry Glenn, Chairman of the SCORE Board of Directors and Foundation and William Regitz, SCORE's Vice President of Finance.

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William Regitz and Jerry Glenn

For more information about the services SCORE provides, visit www.score.org and type in your zip code.

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  • Radio Smart Talk img 2015-03-25 08:15

    Ann emails:

    Listening in the school nurse's office this morning. Our church radio station_in_the_making has asked Score for advice. We have gotten valuable info but our advisor backed out. How often does this happen?

    • Larry Keating img 2015-03-27 15:50

      Ann: An advisor backing out is so rare that I have never heard of that happening before this. You should contact your local SCORE chapter (go to SCORE.org and enter your zip code to get connected to your local chapter) and tell them what happened so that they can assign you a new advisor (we call them "Mentors"). Your project is just the sort of enterprise that SCORE loves to help with. Hope that helps. Larry Keating, President, SCORE Lancaster-Lebanon

  • Lisa img 2015-03-25 08:42

    It will be interesting to see how the Republican party handles this issue for Ted Cruz considering the fuss that was created about Barack Obama's birth.

  • Radio Smart Talk img 2015-03-25 08:46

    With reference to SCORE, Ann emails:

    What is the purpose to incorporate and what is the process?

    • Larry Keating img 2015-03-27 16:04

      Ann: The answer to this question is a bit long, and it's the kind of thing that a SCORE mentor can help you with. Here is my view.
            
      PURPOSE TO INCORPORATE:

      The owner of a business considers four matters regarding incorporation:

      1. Liability. Does the business have some liability risk, say, manufacture of fireworks? If so, the owner should incorporate so that if a liability arises that exceeds the company’s insurance, only the assets of the company could be taken and not the assets (e.g., car, home) of the owner. Both LLCs and corporations provide this protection.

      2. Taxes. With revenues under $100,000/year, the form of business is not a factor. When revenues grow, the owner should discuss the best form with an accountant. For tax purposes, either an LLC or a corporation (two versions -- C corp and S corp) will usually suffice to deal with taxes.

      3. Investors. If the owner believes that the company will grow to the point where it will want to raise funds from investors by selling shares of its stock rather than borrow from a bank, the company will have to be some form of corporate entity. In most cases, the owner should incorporate rather than form an LLC, since investors are familiar with shares of corporate stock and not with LLC membership interests. This is a big deal to a company and the owner needs to get good legal advice.

      We at SCORE cannot provide legal advice but we have good experience through our clients with attorneys who understand small business and provide good service at affordable rates. We can recommend a number of these professionals so the client can take their pick. Same is true of accountants and insurance providers.

      4. Cachet. Some business owners believe that their business has more cachet if it’s an LLC or corporation — it makes it look sturdier and more sophisticated.

      PROCESS:

      Here are two sites that explain how to form an LLC or corporation in PA, with links to the appropriate governmental sites — 

      http://www.wikihow.com/Form-an-LLC-in-Pennsylvania

      http://www.wikihow.com/Incorporate-in-Pennsylvania

      The business itself needs to be registered in PA — here: http://www.pabizonline.com/Pages/default.aspx#.VRWzCVw-BXF

      Hope that helps.

      Larry Keating
      President, SCORE Lancaster-Lebanon