Business Law Attorney | Clearwater | Dunedin | Palm Harbor
Sylvia White, business law attorney for Clearwater, Dunedin, and Palm Harbor understands that area of law is a complicated practice that encompasses all the rules, rights and relations of those in sales, trade, commerce, etc. It is also known as Corporation Law, and includes the body of law that regulates all business transactions and governs general business behavior.
Why incorporate your company?
If you are the sole proprietor of a business, or have just founded a start-up, you’re going to want to incorporate your company. As a business owner you shouldn’t just incorporate your company for the three letters at the end of the company title or to give yourself more credibility. With sole proprietorship, although it is convenient to not have business entity fees, you become personally reliable for all actions of the business—which can quickly become harmful and expensive.
A business law attorney in Clearwater, Dunedin, and Palm Harbor, can help you protect your personal assets, avoid being taxed as both a company and individual entity, and continue the company’s existence if ownership changes. Incorporating your company increases your personal and professional financial security. Once you incorporate your company you will have more flexibility in stock options, protect shareholders from liability issues, and increase your business’ appeal to potential investors.
There are four characteristics that make a business a corporation. They become a separate legal personality with delegated management, and are able to have shares with limited liability shareholders. If you’re a company in Clearwater, Dunedin, and Palm Harbor and are interested in better understanding how incorporating your company can help your business, you should consult a business law attorney.
What are my options?
Once you have made the decision to incorporate, you must choose which business form you would like to take. The type of company you have will affect legal structure. The biggest factors to consider are taxes, investors and liability as well as capitalization expansion and operation. There are a number of legal structures to choose from:
- LLC (Limited Liability Company) — This allows more flexibility and tax options for your business, but offers less structure than other options.
- S Corporation—allows personal liability but must pay corporation fees
- C Corporation—allows public trade and unlimited investors
- Partnership—has at least two owners that manager the company
There are many differences between the various entities, especially when it comes to taxing and ownership. The best decision would be to consult with a Business Law Attorney such as Sylvia White of Clearwater, Dunedin and Palm Harbor, Florida. Choosing the wrong form can affect your financial and liability security and have serious personal repercussions. By speaking with a knowledgeable and experienced professional, together you can make the best decision for your company.
Where do I start?
To be a corporation you must be legally registered under State Business Law. It’s important to know that regardless of which form you choose to incorporate your company as, there is going to be an abundance of paperwork and legal formalities to make your company an official corporation. This will be the foundation for how your business is managed, operated and shared, such as your bylaws. Some parts of the process are especially tedious and it’s imperative to make sure everything is done right the first time around.
To maximize the success of your company you must be sure that you are choosing the right legal form for your business. The only way to ensure this is by seeking legal guidance from Sylvia White, Business Law Attorney of Clearwater, Dunedin and Palm Harbor areas. If you have any questions or would like to set up an appointment, call today.