At Sejpal Law Firm, PA, we understand that the process of business formation involves more than just filling out the paperwork. If you’re forming your own business, you are most likely very excited about the future and looking forward to your success. However, too many new business owners get so caught up in the excitement that they often neglect vital aspects of the formation and planning process, which can compromise a new company’s ability to achieve success.
If you are in the State of Florida and are involved in starting a business, you can greatly benefit from working with a business attorney who understands not only the process of creating a business, but also the possible pitfalls, essential details, and successful strategies associated with this process.
We at Sejpal Law Firm, PA truly care about your business and future, and who want to ensure that you have every opportunity to succeed. Our desire is that we will be able to work with you throughout the years to come, helping you achieve your goals and guiding you through the labyrinth of regulations, laws, and requirements that will affect your ability to grow, succeed, and thrive.
Types of Businesses
When forming a business in Florida, you’ll discover that there are various types of business entities from which you may choose. The most common include the following:
- “C” Corporation: An important aspect of a “C” corporation is the fact that it is a separate entity from those who own it. That means that the owners and shareholders assume little to no personal risk in daily business operations. The corporation as well as the shareholders pay taxes.
- “S” Corporation: This type of entity is set up in the same manner as the “C” Corporation, with the exception that taxes are paid by the shareholders and not the corporation.
- Limited Liability Company (LLC): The various partners in an LLC control company shares. Each partner’s liability for the operation of the business is related to his/her level of investment. Shareholders and not individuals are responsible for taxes.
Each entity has its own set of benefits, liabilities, risks, and tax implications that must be weighed based on your unique circumstances and business goals, we can guide and help you choose the appropriate structure for your business.
We at Sejpal Law Firm, PA can also draft the necessary agreements for your Business to ensure that it runs effectively and smoothly, including but not limited to:
- Operating agreements
- Buy/Sell agreements
- Partnership agreements
- Joint venture agreements
- Employee agreements
- Customer contracts
- Distributor/Vendor contracts