For entrepreneurs not familiar with the legal entity structure, forming a business can be a burdensome process. Each type of structure has its own benefits and considerations that are affected by the business’ size, the number of owners and employees, the industry, and other variables. Choosing the correct business structure is important because it will determine the personal liability of the founders, how taxes are paid, and other important details.
The main business legal structures are:
At Stowe & Degon, we help clients sift through all of the complicated forms of partnerships, incorporation, and LLCs. We’ll explain the pros and cons of each and help you determine which option is best for you based on the needs of your company. Our professionals are well-versed in the needs of business owners and can address common challenges throughout the lifecycle of your company. We’ll provide you with information to make an informed decision, help you select the right legal entity, and help you understand the relevant tax and liability issues.
Allow for our team of professionals to help you with determining which legal plan is best for you. To inquire about entity formation, talk to a Senior Partner today.