Is Incorporation The Right Choice For Your Business?
If you are starting a business, the work required to set up a corporation may seem daunting. Certainly, there are far fewer barriers to entry when forming a sole proprietorship, limited partnership or Limited Liability Company (LLC). But although it takes more time, planning and paperwork, incorporation offers important benefits and protections that should not be overlooked.
Most for-profit corporations will start out as C corporations. Becoming a corporation offers owners a liability shield against business losses and court judgments. It also allows owners to deduct certain purchases as business expenses and to maintain strict separation between business and personal taxes. As time goes on, a C corporation may have the option of filing for S corporation status, which would confer certain additional tax advantages to shareholders.
Let Our Firm Help You Incorporate Your Business
The corporate law attorneys at Kenneth I. Gross & Associates will guide you through the many steps required to incorporate. These include:
- Choosing the specific type of corporation that is right for the business
- Choosing a business name that complies with naming convention requirements
- Filing articles of incorporation
- Writing corporate bylaws
- Writing shareholder agreements
- Acquiring licenses and business permits
- Appointing a board of directors
- Issuing stock
Although our firm is based in California, we can help you decide if it will be advantageous to incorporate your business in another state. For most small businesses, it often makes the most sense to incorporate in the state where they are physically located, but the option of incorporating elsewhere can certainly be discussed and explored with our experienced lawyers.
Contact Us For A Free Initial Consultation
With offices in Los Angeles and Rosemead, the law offices of Kenneth I. Gross & Associates are pleased to offer free initial consultations to prospective clients. To learn more, send us an email. You can also call us at 213-784-4232 or 866-634-2816.