Business Formation
Realize your dream of starting a business with our business formation attorneys
Business Formation Attorney In New York
Getting Your Business Off On The Right Foot
Successful, seasoned business owners know that it takes more than good intentions and wishful thinking to remain competitive in the marketplace. Through strategic planning, you can create a strong foundation for your entity and find a path that allows you to reach your goal.
Contact Khalifeh & Strupinsky, P.C. to schedule a consultation with a lawyer today.
What Type of Business Structure Should I Choose – Corporation or Partnership?
There are several ways you can structure your business. If you have shareholders and a high risk factor, a corporation might be your best choice since shareholders cannot lose their personal assets even when they lose the funds they invest. Partnerships are perhaps the riskiest structures you can choose. In a general partnership, each partner assumes liability for the company’s debts and the other partner’s actions. In a limited partnership, though, the limited partners are not liable for the company’s debts. However, this structure requires that one of the partners remains liable for the partnership’s debts. Don’t start your business without knowing what option suits your business model best. Schedule a chat with one of our business formation lawyers to learn which type of business is best suited to your needs.
Are There Any Other Structural Options for My Business?
Most smaller startups choose the limited liability company (LLC) option. LLCs have the liability protection of corporations while still having the option to choose how to distribute their profits. They also are eligible for the pass-through tax option – paying individual income taxes rather than the higher rate the government imposes on corporations. Our business formation legal team can help you find which structural option is the best choice for your situation. Get in touch today to arrange a consultation with one of our attorneys.
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