The Right Way to Incorporation is Crucial to the Success of the Business
We employ business and contract lawyers who particularly understand the entire process of business formation, including its crucial elements and not just paperwork. If you happen to be building your own business, it is no secret that what you’re most excited about is enjoying its success.
But then again, there have been so many business owners who are too concerned about achieving success that they in fact forget and recognize other aspects, specifically formation and planning. These two should never be forgotten or neglected because once you do so, you and your business will never obtain the success you’ve been hoping for.
And if you happen to be planning on forming your business in Miami Florida, you can go ahead and get the advantage of an experienced and reliable business attorney who recognizes the significance of the process of creating a business while at the same time anticipating the possible risks involved, particular details, and the effective strategies that can be employed.
With the Jurado & Farshchian, P.L., we make sure you will be personally working with business attorneys who are experienced enough to understand that you love and value your business and its future. They give you the guarantee of working hard so that you have all the opportunities to succeed. We make it as our objective to work with you for many years to come, to be with you every step of the way until you achieve your business’ ultimate goal. In the process, we will be providing you the guidance in following the law and keeping in step with the regulations and requirements in business operation.
In creating a business in Miami, you must understand that there are several business types that you can choose from. Below are some of the most common:
- Sole Proprietorship – There are only very few legal issues involved in this kind of business and you as the owner is responsible (solely) for both the finances and the operation of the business.
- C Corporation – The most crucial aspect of a C corporation is that it is referred to as a separate entity to those who actually own it. As a result, the owners, including the shareholders have minimum risks and responsibilities in terms of day-to-day business operations.
- S Corporation – It is pretty similar to a C corporation, except that taxes are to be paid by the shareholders while the previous one entails that both shareholders and the corporation will pay taxes.
- Limited Partnership – This type of business runs in such a way that one partner is involved in the business operations while the other may only be a capital contributor. There is limited liability for that partner, too.
- General Partnership – In a general partnership type of business, you and your partner will be sharing practically everything about the business, including profits and losses, as well as liabilities and responsibilities.
- Limited Liability Company (LLC) – In this setup, the partners have shares and each liability for the business operation is based on the level or amount of investment. Also, the shareholders will be responsible for taxes and not individuals.
- Limited Liability Partnership (LLP) – This business variety serves to protect individual partners from personal liability related to the negligent actions of other partners or workers who are not under the partner’s control or supervision.
If you come to us for help on your plan to form a business, we will give you a comprehensive and detailed explanation on the different benefits, liabilities, tax implications and risks involved in each type of business.