Does Your Firm Work With The Formation Of Any Type Of Business?
We work with any type of business. Depending on what the business owner’s needs are, if they are a large company, their needs may be better served by a larger firm. Small to medium size businesses are where we do most of our work. We can help businesses in any industry to get set up and going. If they are having partnership issues, need documents drawn up, or if they are having disputes, those are all things we can help with, regardless of what type of business it is or what industry they are in.
What Pitfalls Can An Attorney Help Me to Avoid While Forming My Business?
When someone is starting a new business, one of the more common pitfalls they run into is not doing the paperwork correctly. My firm can certainly help with that. The other pitfalls commonly arise when there is more than one person involved with starting the business and in those cases, the business owners will want to make sure that their partnership, corporation, or limited liability company documents are well-drafted, so that the rights and responsibilities of everyone who is involved with the company are well-defined.
What Factors Should Be Considered When Choosing My Business’s Entity?
In choosing a business entity, the most common forms are either a corporation or a limited liability company. You also have the option of setting up your business as a partnership, if you have at least one other person you are going into business with. If you are doing it completely on your own, you have the option of being a sole proprietorship, which does not really require any special organization or paperwork to get started. The factors that should be considered when choosing what entity would be appropriate for your business would include: (1) how many people are going to be involved; (2) how many employees you expect the business to have; and (3) what the tax and liability ramifications are. There are many different considerations and my firm can help you with the legal considerations while also pointing you in the right direction to find a good tax adviser.
What Is An LLC Or Limited Liability Company?
Between the 1970’s and the 1990’s, legislatures around the country decided that corporations, which had been the default business entity, were not necessarily a good fit for all small businesses. Small business owners needed a way to set up a new business entity so that the business would be clearly separate from personal finances and personal affairs, but they did not necessarily need all of the hassle and expense that went along with having a corporation.
So instead of having all business form as corporations, they enacted laws which allowed small business owners to have a simpler option–the limited liability company, or LLC. In general, an LLC will be much simpler to form and much simpler to manage and does not have a lot of the strict reporting requirements that corporations tend to have. A limited liability company is simply a creation to allow small business owners to have a business entity that better fits their needs.
For more information on Formation Of Businesses In Arizona, a consultation with a business attorney is your next best step. Get the information and legal answers you are seeking by calling (480) 378-2400 today.
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