New York Business Formation Attorney
Vilella Law Can Help You Create Your Business Entity
Whether you are a first-time business owner or have been through this before, you should hire an attorney when forming a new company. You could hit a snag at any point in this complicated legal process that can halt progress. You could also open up your company to future litigation liability. By working with an experienced attorney to form your business, you can ensure that a legal professional is guarding your interests at every turn.
At Vilella Law, our business formation lawyers in New York City can help you manage the risks and maximize the benefits of starting your new company. Whether you decide to form as an LLC, corporation, or another business entity, we can walk you through each step. We can keep you aware of potential liabilities along the way.
Every business owner wants to protect their company from risk, and you are no different. Get a confident start by consulting with Vilella Law for your business formation needs. We can help you whether you're planning to form a small business or a larger company.
The Four Common Types of Businesses
Creating a new business in New York is a major consideration that should be carefully examined before moving forward. Because there are personal liability and tax implications for each type of business organization, a business attorney in New York City should be consulted.
The four main types of businesses include:
- Sole Proprietorships, which make you as an individual and your business linked to one another. While you are entitled to all of your company’s profits, you are also liable for all of its debts. Your personal income will also be taxed as a business’.
- Partnerships, which are formed among two or more individuals sharing profit and liability for their company.
- Limited Liability Companies (LLC), which shield its owners (“members”) from some of the business’ liabilities while still allowing them to benefit from its profits. LLCs are created through Articles of Organization.
- Corporations, which generally shields owners from many or all of the company’s liabilities. This is typically at the cost of more taxes and in greater amounts.
You are not necessarily confined to these four types of businesses, and these definitions are by no means comprehensive explanations of your risk. There are many different types of business entities that account for different levels of liability. Only an experienced attorney can help you identify which options work best for your needs.
At Vilella Law, our attorneys are experienced in assisting clients in business formation matters that help them start off on the right track. If you need legal counsel to help you determine how you can start your business on the strongest footing, reach out to us. Whether you need help with choosing an entity or drafting an operating agreement, we can work to protect your best interests.
Contact Vilella Law online to get the legal support you need when you’re starting a new company.