Practice Areas - Entity Formation
What types of entities are formed, and what is involved and how do they operate?
The two types of entitles people form to operate their business, and to protect
themselves from liability, are limited liability companies (LLC) and corporations (Inc.).
LLCs offer flexibility and are more popular than corporations. They are a hybrid
of partnership and corporation and the owners of the LLC are members, and the LLC is
either managed by the members in proportion to their interests, or managed by a manager
who has authority to operate the LLC and make decisions for it. A corporation, on the
other hand, is owned by its shareholders and has officers, such as a President, Secretary
and Treasurer. You should always consult with your accountant or a tax professional with
regard to which entity is best for you, and how to fund these entities and operate them
for the best tax advantage for you and your business.
Please call or e-mail for rates for
standard documents for forming a limited liability company or a corporation.
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