Business Entity Formation
When starting a business, one of the first and most important questions you need to answer is what type of business entity you want to form. The answer to this question depends on the nature of your business, your mission, and your goals, but no one structure is best for everyone. At HoganWillig, our corporate and business attorneys work closely with our business clients to understand what they do so that we can help them make the right choice for their business. When you work with our Buffalo business formation lawyers, you gain a partner in the future success of your business.
Why Choosing the Correct Formation is Important
Starting a business is an exciting time – a time filled with opportunities and optimism. Unfortunately, many entrepreneurs overlook the potential pitfalls you can face any time you start a new venture. Every business will eventually face potential liabilities, whether they are debts or other potential legal claims from other businesses or even your employees and partners. If you don’t plan carefully, you could find yourself personally liable for your business’s debts and legal liabilities.
In general, choosing the right corporate structure can provide your business with the flexibility you need to grow and expand your business in the future. For example, choosing the correct business entity can also help minimize your tax liability. Not only does this mean greater tax savings, but it also provides more revenue to reinvest in your business and compensate your employees. But choosing the right corporate structure means more than just money – it means establishing ownership, control, management, and leadership for facing your business’s challenges for years to come.
Our Buffalo Business Formation Lawyers Can Help Find the Right Structure for Your Business
Our attorneys have extensive experience identifying which structure best suits our clients’ needs. Our services don’t end there, however. We can handle every aspect of the formation process to ensure your business is fully operational. We can help you set up the following types of business entities:
- Corporations, both S-Corps and C-Corps
- Not-for-Profit entities
- Sole Proprietorships
- Joint Ventures
Our Buffalo business formation lawyers can handle all of the paperwork so that you can focus on getting your business started.
How Do You Form an LLC in New York?
LLCs are one of the most popular corporate entities for good reason – they are easy to set up and provide the corporate protection that most business owners need. The process includes the following steps, which our corporate lawyers can help you finalize:
- You will need to choose a name for your LLC.
- You will need to choose a Registered Agent, who will serve as your principal point of contact for legal matters in the state of New York.
- You will need to file your Articles of Organization with the New York Department of State.
- You will need to publish notice of the formation of your LLC in two newspapers for six weeks.
- You will need to create an LLC Operating Agreement.
- You will need to obtain an Employer Identification Number (EIN) for tax purposes.
While the process is fairly straightforward, it involves a number of important decisions along the way. Our Buffalo business formation lawyers can provide you with the guidance you need and help you navigate the formation process.
Contact the Buffalo Business Formation Lawyers at HoganWillig Today
We work with companies at every stage of the business life-cycle across a broad spectrum of industries and markets. To discuss your business and how we can help get you off on the right foot, contact us today at 716-636-7600.