Get Assistance From Our Experienced Business Development Lawyer
Starting a new business is an exciting experience. Selecting the right business entity is a major component in this endeavor and a key factor in your future success. In your business development efforts, it is important to have experienced guidance through any potential legal issues.
At Howes Law Firm, P.C., we have been helping entrepreneurs launch their businesses for 30 years. Our firm can evaluate your goals, provide legal guidance, and help you select the proper entity for your new enterprise.
We provide a free consultation to potential clients. Call our Cedar Rapids business formation lawyers at(319) 264-2922 to get started.
Choosing a Business Structure
You may be launching a new business or converting an existing operation into a new business entity. Either way, you will want to ensure that you have chosen the right structure that meets your needs.
The type of business structure you choose will have legal and financial implications. It could affect taxes, business loan opportunities, and risk exposure. Choosing the right business entity can maximize your success and simplify legal matters.
We help business owners launch:
Sole proprietorships - Run by one person, with no legal distinction between owner and business entity
General partnerships - An association of two or more partners who contribute to the business and share all profits and losses
Limited partnerships - Similar to a general partnership, but limited partners are only liable up to the amount of their investment, with at least one general partner who has unlimited liability
Limited liability partnerships - Like limited partnerships, but there is no requirement to have a general partner
Limited liability companies - A business structure where owners are not held liable for company debts or other liabilities, combining characteristics of corporations, partnerships, and sole proprietorships
Family limited partnerships - Similar to limited partnerships, involving family members buying shares of the business and profiting in proportion to their shares
C corporations - The entity is taxed separately from its owners
S corporations - The qualifying entity is taxed under Subchapter S of Chapter 1 of the IRS, and generally does not pay income taxes
Professional corporations - Available to entrepreneurs who provide services - such as doctors, attorneys, or engineers - and have special provisions in corporate statutes
Nonprofits - Organized and operated to provide a public benefit, rather than to generate profit for owners
We provide a variety of legal services to help you form your business. Our business law firm can draft the necessary legal documents and ensure that you complete every step of the entity formation process.
Seek Guidance from an Experienced Business Development Attorney
Our firm can educate you on the pros and cons of various structures. We can provide legal advice on how to decide what is the right choice for your new business venture. With our assistance, you can select the structure that will work best for you. We can then help you can get underway in the creation of your business.
