Formally registering a new or existing business in the State of New York can be a time consuming task, and may seem unnecessary to many entrepreneurs or small business owners. But, registering a business provides owners with significant benefits and protections. The most important advantages involve tax implications and protection from personal liability and tax implications for business debts.
Registering a Business Entity
Before registering a business, an owner must decide which form of business entity to establish and what state to register (or domicile) the business in. Indeed, Delaware has become a ‘trendy’ state to register in; but, it may not be the best option realistically for all businesses and can unnecessarily increase set-up and annual maintenance costs (i.e., due to unnecessary domicile and registrations costs).
Choosing a Type of Business Entity
The choice of business entity is an important decision that has a lasting effect on your business, and should be made with the advice of a Business Lawyer. The most common forms of business entities in New York are the Corporation, S-Corporation, Limited Liability Company, Professional Limited Liability Company, and Partnership – each having its own pros and cons, its own tax implications, annual set-up and maintenance costs, levels of liability protection, and management structures.
New York recognizes Sole Proprietorships, C-Corporations / S-Corporations / Non-Profit Corporations (INC) and Professional Corporations (PC), Limited Liability Companies (LLC), Limited Liability Partnerships (LLP), Professional Limited Liability Company (PLLC) and Limited Partnership (LP).Each business entity has its own requirements, characteristics, advantages and disadvantages with respect to issues of filings, business purpose, personal liability, taxation, ease of management and maintenance and cost.
Business Registration Filings
Different types of business entities require different forms of initial filings and information.For example, to formally register a Limited Liability Company (LLC) you must complete and file a Certificate of Organization with the New York Department of State and for a Corporation (INC) you must complete and file Articles of Organization. Some types of entities such as a Benefit Corporation, Non-Profit Corporation and S-Corporation all require specific filings or additional filings required to obtain the desired status.However, if you are a professional such as a doctor, lawyer or an accountant or render “professional services and services ancillary thereto within a single profession” in New York, and you want to register a Corporation or an LLC, you must also file a certificate from the appropriate regulatory board that certifies that you and the other owners/shareholders/members are duly licensed and admitted to the profession in the State of New York.The failure to do so will result in rejection of your Professional Limited liability Company (PLLC). The Lawyers at Fourton & Associates, PLLC can review the specific circumstances of your business with you and assist in choosing the type of business entity that best fits your needs.
All Businesses – whether new, growing, or established – need smart, capable attorneys on
their side. Clients come to Fourton & Associates, PLLC in New York City seeking legal counsel during all
stages of their business endeavors because they know they’ll be in great hands.
Leslie E. Fourton leads the Business Practice Group at Fourton & Associates, PLLC and has experience
working with all sizes and types of organizations, from start-ups to multinational corporations.
New businesses
Expect intelligent advice on the incorporation and formation of your business as we help you select a
suitable structure that facilitates the growth of your organization. Business structures include:
Each structure comes with pros and cons, and with its own set of risks, regulations and tax issues.
Together, we can discuss your options and determine the structure most appropriate for you and your
goals. A Business Lawyer from Fourton & Associates will walk you through the steps and ensure that your
business starts out properly with all of the necessary legal paperwork taken care of, accordingly.
This is a critical stage in the life of your business. It’s also the perfect time to forge a lasting
relationship with attorneys who understand your company’s needs and work hard to help you grow.
Growing Businesses
We realize that it is crucial for the ongoing success of a business to properly define the parameters of
the relationships between shareholders, directors and business partners. Here, to avoid future disputes,
the team at Fourton & Associates, PLLC can guide you through all corporate governance related matters at
every stage.
In addition, for clients who are looking to expend their business via mergers and acquisitions, we
negotiate and draft all transaction documents, financing arrangements and due diligence for share and
asset purchases. Here, by working directly with financiers, we are able to structure arrangements that
leave no room for misguided surprises.
Established Businesses
Once a business is established, it needs continued legal advice in matters of contracts, liability, and
more to stay protected and profitable. This is true for every business structure, from the one-person
LLC to the large corporation. If it becomes necessary, Leslie E. Fourton will use his extensive skills
as a litigator to safeguard your business interests.
It should also be noted that in tough times, our team at Fourton & Associates, PLLC can also guide you
through dissolutions and wind-ups, liquidations, revivals, and restorations.
Business Law to Help Your Business Thrive
Rest assured that we share a common goal: creating certainty for your business and business
relationships. Talk to us about your business and we believe you’ll find us to be the right partner to
help your business thrive. Give us a call today at our New York City office at (800) 677-6040.
If you are thinking about a business litigation attorney NYC, this is because you have a genuine legitimate issue. We think of it as an incredible advantage and considerably more outstanding obligation to take on New York prosecution cases, and we will strive to win. We don’t have faith in pardons; we just put stock in results. Reach us today to talk with New York business prosecution legal counsellor who can assess your case and clarify your choices. High worth business debates frequently cross state and public fringes and compromise an organization’s very presence. Fourton and Associates are knowledgeable about overseeing “wager the-organization” questions in state and government courts all through the United States and in worldwide mediations. Our lawyers have taken care of complex problems including global joint endeavors, business extortion including RICO, banking, oil and gas improvements, protection claims, fabricating surrenders, contracts, MasterCard preparing and land matters. All litigators are legal counsellors, yet few out of every odd attorney is a litigator. What’s more, few out of every bizarre litigator is a business suit lawyer in business litigation attorney NYC. At the point when you’re prepared to do fight in the court, or at the arranging table, you need a legal advisor who can win the case or make the arrangement at the time – settling on the correct choices in the warmth of fight is the thing that suit is about. You can discover this legal advisor at Fourton and Associates as it were.
Elements influencing a business can change day by day or immediately, while individual issues require a very long time of crucial arranging. Regardless of what phase of the business lifecycle your organization is in, Fourton and Associates Law’s Business lawyer NYC can help with technique and execution. We are, at our center, a business law office. I don’t get that’s meaning? That idea stretches out into case and diversifying and land matters, as is examined somewhere else on this site. However, our most fundamental calling is prompting entrepreneurs on the legitimate parts of making, creating and continuing a significant business. As a firm, Cohen Schneider Law has separated itself in New York City as influential business attorneys. Our training zeroed in on Business lawyer, incorporates customers of all shapes and sizes. We speak to business people, new companies, arising organizations, private ventures, set up organizations, entrepreneurs. Our business attorneys have many years of involvement, and we have spoken to organizations enormous and little, so we are fit for taking care of complex, multi-million dollar exchanges or making the strides expected to dispatch a beginning up without any preparation. To do this well, it gets essential to be able to get conversant in the language of whatever specific industry our customer works in. Throughout the long term, we have gotten gifted in doing this.
Is it exact to state that you are an independent venture anyplace in most of New York needing some assistance or guidance from our group of private business Litigation attorney NYC, concerning some legitimate issues you are looking in your business? Assuming this is the case, you are in karma since us at Fourton and Associates are a group of New York business legal counsellors work in different parts of business law with quite a long while of involvement added to our repertoire. Our group of business legal advisors can deal with any issues identifying with: Business Purchase and Sale, Stock Sale, Contracts, Company Formation, Independent contractual worker arrangements, Operating Agreements, Landlord and Tenant Matters, Commercial and Residential Property and part more. Our group of legal counsellors in business attorney NYC can assist you with tending to a broad scope of issues from corporate to land, work to protected innovation, agreements to prosecution. Another business should begin the correct foot. We coordinate and structure new organizations for forthcoming entrepreneurs, which incorporates picking a proper, lawful structure (e.g., LLC, C-Corporation, S-Corporation, association) and drafting inward administering archives, for example, Partnership Contracts, Operating Agreements, and By-laws to oversee the organization’s everyday activity. Extra corporate issues will emerge as your business grows. We assist you with planning and arrange concurrences with potential colleagues, sellers, specialist co-ops, and self-employed entities.
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