Chico Business Formation Attorney
Are you starting a business? Do it right.
There are many things to consider when forming a business. Most people want to start a business so they can make a living, maybe even a very good living, while being their own boss and doing something they know and love. That makes it even more important to start out on the right foot and make sure that it is done correctly. Careful planning in the beginning enhances the success potential of your new business. Without it, your business could possibly be excessively taxed, or you could lose certain benefits that could have been available.
No doubt you have a lot on the line, and this is a critical turning point for you. A business attorney in Chico is your partner in setting up your business with all legal details firmly in place. Contact our firm today for guidance.
Sole Proprietorship, Corporation, Partnership, LLC
What sort of matters needs to be addressed when forming a new business? Probably the first issue is deciding on the legal form your new enterprise will take. This will have an effect on your taxes, liabilities, and how you go about any financing. Do you want a Sole proprietorship, Partnership, or Corporation?
If you want Sole proprietorship, you will take on the responsibilities of reporting income and expenses on your own tax returns. If you want a Partnership, you will need to decide whether it's a general or limited partnership. These differ from each other by how much risk is assumed by each partner.
A business lawyer would be instrumental in drafting an agreement, which details every aspect of each partner's role and level of responsibility. This is crucial in heading off any future problems if there are disputes. Sometimes a partner decides to leave the company. A well-drafted agreement will take this into account so that the company does not disintegrate when a partner leaves.
If you decide to form a corporation, you will in effect remove, or at least limit, yourself from personal liability where there are debts and other business risks involved.
Other Steps for Forming a Business
When forming a business, you must consider the following:
- A business name will need to be decided upon and then reserved, with all the appropriate paperwork completed accurately and filed.
- There are additional documents that need to be drafted, such as operating agreements, employee contracts, and bylaws.
- If you have shareholders, you will need shareholder agreements as well as stock and membership certificates issued.
- If there are any licenses to be issued, this will need to be addressed.
- You will need to handle any insurance matters and determine how you will comply and report with any regulatory requirements.
- These are more reasons why you need to consult a knowledgeable business attorney who knows exactly what's needed and can perform these duties in a timely manner.
Contact a business law attorney in Chico, CA
At The Law Office of Nikki Farris in Chico, CA, we understand all that is involved when you wish to start a business. From corporations, partnerships, to establishing an LLC, and more, we are here for you. There are many bright opportunities to look forward to, and you don't want your future to be marred by errors caused by inexperience or unforeseen circumstances, especially those that could have been prevented.
Our attorneys have extensive experience with business law in helping you pave the smoothest road for your business venture. We know how to guide you in deciding on the best form your new business should take. Making the right decisions for your particular enterprise will set the foundation for success.
We want to you succeed, so we work hard to help you organize your business in order to obtain the best chance of future prosperity. Contact our firm today!
“Nikki Farris is very easy to talk to, professional and knowledgeable.” - Rachele T.
“Fast consultation and excellent service.” - Lucian R.
“Nikki was so kind, so compassionate.” - Kali H.