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Business Formation
Generally, officializing your business involves dealing with never-ending paperwork. But we’ll get the job done quickly with our business formation services, saving your precious time and energy.
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Our pricing plans are for everyone; those who have recently established their business as well as owners of long-running enterprises.**
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Hiring a business formation attorney means legally owning, operating, and protecting your company. This way, you won’t have to get entangled in messy legal affairs. In addition, legalizing your company offers several advantages.
Apart from LLC, corporation, and nonprofit, there are six business structure types.
Before establishing your company, it’s essential that you understand how many types of business structures exist and, more importantly, which one you should choose.
LLC, short for Limited Liability Company, protects business owners from losing their personal assets in case of bankruptcy or lawsuit.
In this business structure type, a company is formed when a group of shareholders shares the ownership of the company by purchasing stock shares.
Nonprofit organizations do not pay state or federal income tax because their primary objective is to give back to the community.
Business formation refers to a legal step entrepreneurs are required to take before starting a company. It helps them prevent getting into messy court-related affairs in the future.
The four primary business formation types include sole proprietorship, partnership, Limited Liability Company (LLC), and corporation. Although there are more, these are the most common ones.
Each of the four business formation types has its pros and cons. So, the best suited for your business depends on certain factors, such as how much tax you want to pay, who will be investing in the company, and how you will issue stocks.
C-corporation and S-corporation are two business formation types that come under ‘Corporation.’ The primary difference between them is how they’re taxed. A C-corporation gets taxed twice (on income and distribution), while an S-corporation only has to pay taxes once (on distribution).
Typically, nonprofit organizations are run for charitable purposes. This means they do not have to pay sales, property, or income tax. However, they are not exempt from federal income tax.