Entity Formation/Corporation and LLC Formation
The DeWitt Law Firm P.A. helps its clients decide of the proper business entity for their circumstances and then works with them to form that entity.
The most common types of business entities include:
If you are in business for and with yourself, then you are considered a sole proprietor, unless you have formed a different type of business entity. The DeWitt Law Firm can help you to comply with the specific legal requirements applicable to sole proprietors.
There are two major types of corporations; the C and the sub s corporation. The primary difference between these two types of corporations is the tax implications. From a legal standpoint, they each provide a form of corporate veil and can help protect some business owners from personal liability depending on the type of business and liability involved. Corporations with more than one shareholder should have buy-sell agreements. Please ask us to discuss the formation of a corporation with you in more detail if you are interested in learning more by clicking on the link below.
A partnership is composed of two or more individuals or entities that desire to come together for a specific business purpose. It is important that all partnerships have partnership agreements that define the rights and responsibilities of the partners in the partnership. The DeWitt Law Firm prepares these and other necessary partnership documents for its clients.
A limited liability company or an LLC is also sometimes referred to as a limited liability corporation. An LLC is a form of business ownership which is a hybrid combining several features of corporation and partnership structure. Its owners are called members not partners or shareholders. The number of members is unlimited and members may be individuals, corporations, or other LLCs.