Grass Valley Business Formation Attorneys
California Business Start-Up Assistance in Auburn, Roseville, and Sacramento
Are you ready to build a business but are not sure where to start? Choosing the right business entity will be paramount to your success, as it will influence your personal liability and how your company will be organized and taxed. A knowledgeable legal representative can help you understand your options and make the right decision.
At Ingram Brady, we are more than experienced attorneys: We are also seasoned business owners who are deeply invested in your success. Our team is committed to enriching our local community and is passionate about giving entrepreneurs the guidance they need to achieve their objectives. After evaluating your start-up’s goals, our Grass Valley business formation lawyers can help you weigh the advantages and disadvantages of each entity type and provide the sophisticated advice you need to establish a strong legal foundation. Because we offer a wide range of legal services, we are also prepared to serve as your business’s long-term legal partner.
California LLC Formation
A limited liability company (LLC) is a business entity that combines elements of corporations and partnerships. Owners, or “members,” report the LLC’s profits and losses on their personal tax returns. This entity type is popular amongst small businesses, as members are not personally responsible for an LLC’s debts or liabilities.
If you are interested in forming an LLC, our team can help you:
- File articles of organization
- Select a registered agent
- Choose whether your LLC will be managed by members or managers
- Draft an operating agreement
- File biennial reports
- Manage state tax obligations
- Comply with all other regulatory requirements
An S corporation is a type of “pass-through” entity often used by small businesses. They must have 100 or fewer shareholders and enjoy many of the tax advantages associated with partnerships. These entities avoid federal corporate taxes and transfer profits directly to shareholders.
If you want to create an S corporation, we can help you:
- File articles of incorporation
- Choose an agent for services of process
- Draft corporate bylaws
- Appoint a board of directors and conduct an initial meeting
- Issue stock
- File a statement of information
- Understand and manage your tax and other reporting obligations
Most large and/or publicly traded corporations are “C” corporations. Unlike S corporations, C corporations can have an unlimited number of shareholders. However, C corporations are taxed twice: The business entity must pay applicable corporate income taxes, and company shareholders must also pay taxes on their personal returns.
If you are looking to seek financing through investors or eventually sell your company, it is generally in your best interest to form a C corporation versus an S corporation. Our Grass Valley business formation attorneys can evaluate your needs, advise on the best course of action, and help you fulfill all legal filing and reporting requirements.
A partnership involves two or more owners who agree to go into business together. Unlike LLCs and corporations, owners are generally liable for the business entity’s debts and obligations. The business entity itself is not taxed: Owners report profits and losses on their personal tax returns.
Though California does not necessarily require partnerships to file formation paperwork with the state, there are other legal formalities you will likely need to navigate. If your venture’s name is anything other than the surnames of the company’s partners, you will need to file the business name with the state. Partnerships with employees must obtain an Employer Identification Number (EIN), and many professions require you to obtain the applicable licenses, permits, and zoning clearances. Our team at Ingram Brady can also help you draft a partnership agreement that clarifies the entity’s organization and each owner’s obligations to the business.
Choosing the right business entity will involve a careful assessment of your venture’s short- and long-term objectives. You will need to consider how you wish to be taxed, the level of personal liability you are willing to accept, and your preferences for organization, financing, and growth.
Our Grass Valley business formation lawyers are focused on client success and can help you make the optimal decision for your new company. We can also continue to support your business as your general counsel and assist with other areas of business law, including representing your venture’s interests in employment disputes and other forms of litigation.
Our team frequently supports California companies in the cannabis and entertainment industries and also serves clients in Grass Valley and Penn Valley. Call (530) 317-0501 or contact us online to discuss your formation options with us.
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