(What Form of Company)
If you are considering starting a new business or as you business grows, from a sole proprietorship or a general partnership, you may want to form a company. Forming a company can take many forms – you could incorporate your business and form a Corporation – an “S Corporation” or a “C Corporation” or you may want to form a Limited Liability Company (LLC) or a Limited Liability Partnership (LLP).
Primary requirements for a Company (Corporation or LLC):
- continuity of life,
- centralization of management,
- limited liability, and
- free transferability of interests.
We offer consultations in which we understand what your business needs are and advise you accordingly to choose the form of business organization best suited to your needs.
We have experience with mom and pop stores as well as small and medium sized businesses all the way from the start-up as well purchase of an existing business or sale of a business.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
BUSINESS FORMATION CHECKLIST:
- Can the business entity operate as a Corporation or an LLC?
- Is the business entity engaged in a business that may be operated by an LLC or does the business need to be incorporated?
- Does the business have more than one equity owner?
- Is an LLC or a Corporation a desirable form of business entity for the business, given the particular characteristics of the owners, the business, and the applicable external factors?
- Does the business operate in states that do not recognize LLCs?
- How do the advantages and disadvantages of a Corporation or an LLC stack up for this particular entity?
- Does the business structure offer all of the desired operational attributes, such as limited liability, management structure, and capital structure?
- What effect will the business structure have on a future sale or other disposition of the business?
- What are the possible consequences of or roadblocks to the new business structure?
- What are the tax consequences?
- What are the business and transactional consequences?
- Analyze the appropriateness of using a Corporation, an LLC, an LLP as the form of business entity
- Company Name
Reservation of Name.
- Articles of Incorporation (Corporation) or Certificate of Formation (Limited Liability Company or Limited Liability Partnership).
- Shareholder Agreement or Operating Agreement or Partnership Agreement respectively.
- Federal Employer Identification Number (FEIN).