Formation of Business Entities
When starting a business, selecting the right type of business entity is essential to your company or corporation’s overall financial success. At Mathis, Marifian & Richter, Ltd., our attorneys understand that every business operation has unique objectives, and we have the experience to help you select the right entity to achieve those objectives.
Our team of talented attorneys has experience and knowledge of all types of business entities such as:
- Limited Liability Company (LLC) – A LLC is a business structure that combines the limited liabilities of a corporation and the tax efficiencies and operational flexibility of a partnership. In a LLC, personal assets can be separated from business debts, and there is no limit to the number of owners.
- C Corporations – In C Corporations, personal assets can be separated from business debts. Tax and legal structures are separate from the owners and the company can deduct fringe benefits from taxes.
- General Partnerships – A partnership is a single business where two or more people share ownership. In a general partnership, profits, liability and management duties are split equally among partners.
- Sole Proprietorships – A sole proprietorship is the simplest business form under which one can operate a business. It legally has no separate existence from its owner. The owner must report all profits and losses on his or her personal taxes.
We understand that choosing a business entity can be overwhelming, and we want to help make the process as smooth and easy as possible. Our business lawyers will personally examine your business objectives and compare both the legal and tax implications for each entity to find the best one for your business.