Before you begin withholding state taxes, you must register for a Minnesota tax ID number. If you fail to register prior to withholding Minnesota taxes, you may be subject to a $100 penalty. You will need the following information to register for a Minnesota tax ID number: Federal Employer ID number (FEIN)
In order for consideration to provide a valid basis for a contract -- and remember that every valid contract must have consideration -- each party must make a change in their position.. Consideration is usually either the result of: 1  a promise to do something you're not legally obligated to do, or.  a promise not to do something you have the right to do (often, this means a promise not to file a lawsuit).
View Full Document. 1  44) Which of the following lacks consideration? 44) A) bargained - for exchange B) gift promise C) preexisting duty D) illusory promise 45) ________ is a promise to refrain from doing an unlawful act, and therefore is a promise that will not support a contract.