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[label style=”inverse”]Business lawyers help individuals form business entities for two main reasons:[/label]
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[label]The most common types of entities are:[/label] [caret_list]
Except for partnerships, each of these business entities provides liability protection for the owner. In a partnership, however, each partner is fully liable for all aspects of the business.
The tax treatment differs depending on the type of entity you choose, the projected size of the business, your personal tax situation, and the participants in the business. For instance, S corporations are identical tax-wise to an LLC, but while only certain people can own stock in an S corporation, an LLC has no such restrictions.
[/span8] [/row] [hr] [row] [span12] As your business lawyer, Steve Sneiderman will interview you to assess your business needs, coordinate with your accountant, and explain the benefits and risks of the various entity options. Once you’ve decided which type of entity is right for you, Steve will complete the appropriate paperwork, including securing a tax ID number and filing the papers with the Secretary of State. He’ll also create a corporate record book for you and explain all the steps you’ll need to take to preserve your corporate identity.
- Tax treatment
- Liability protection
[label]The most common types of entities are:[/label] [caret_list]
- Limited liability companies (LLCs)
- S corporations
- C corporations
- Partnerships/limited partnerships
- Professional corporations
Except for partnerships, each of these business entities provides liability protection for the owner. In a partnership, however, each partner is fully liable for all aspects of the business.
The tax treatment differs depending on the type of entity you choose, the projected size of the business, your personal tax situation, and the participants in the business. For instance, S corporations are identical tax-wise to an LLC, but while only certain people can own stock in an S corporation, an LLC has no such restrictions.
[/span8] [/row] [hr] [row] [span12] As your business lawyer, Steve Sneiderman will interview you to assess your business needs, coordinate with your accountant, and explain the benefits and risks of the various entity options. Once you’ve decided which type of entity is right for you, Steve will complete the appropriate paperwork, including securing a tax ID number and filing the papers with the Secretary of State. He’ll also create a corporate record book for you and explain all the steps you’ll need to take to preserve your corporate identity.
Contact Steve Sneiderman today to begin forming your new business entity.
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