Your Business Deserves Special Attention
Legally recognizing a business entity is a process that requires forethought. Your type of business entity will have ramifications for your personal liability, as well as certain tax implications. Therefore, it is important to think through all those aspect before you decide. Having an experienced business law attorney on your team, helping you evaluate your needs, is a huge asset to your business.
Create A Business That Is Made To Last
Behzad Nahai formed Nahai Law Group over a decade ago with the goal of providing practical, efficient representation to clients in business law and commercial real estate. He has been practicing in those areas for more than 30 years. Our team brings that experience, along with Mr. Nahai’s uniquely pragmatic approach, to your situation and will help you manage the business formation process from beginning to end.
There are multiple types of business entity, each with their own advantages and disadvantages. They include:
- Sole proprietorship. This is a very common type of entity for small businesses just starting up. One advantage is that a sole proprietorship is subject to less government involvement than other types of business entities.
- Partnership. If you are working with another person or business, a partnership allows you to form an entity knowing that you must make decisions with that other party.
- Limited liability company (LLC). This type limits your personal liability as head of the entity.
- Corporation. A corporation is a very flexible type of entity, but corporate formation is subject to some government involvement in that it must meet certain requirements to continue being a corporation.
Each of these will not only impact your own liability and your taxes, but how the entity may function. It is crucial to think through your business plan as you evaluate which entity type is right for your situation.
Talk To An Experienced California Business Formation Attorney Today
With decades of experience in business law, combined with an efficient approach, our team can help you form your business in a way that sets you up for continued success. To talk with a lawyer and learn more, call our Los Angeles office at 424.276.1654.