Business Entity Formation

An Experienced Business Formation Attorney Will Guide You To The Correct Business Entity Choice

Choosing the correct business structure is a critical first step when starting a new business. There are many details to consider when choosing the proper entity: what are the short and long-term goals of the business? Will the business seek investors? What about tax implications? Making the wrong choice could prove to be expensive.

There is no need to make this decision alone, let an experienced New York business attorney guide you through the process. Together we will discuss your business plan and your business goals. I will answer all your questions, and best of all I will explain all the legal details in an easy to understand way.

The Right Business Entity For Your Business

There are several business entity choices available, each with its own benefits and tax implications. As a new start up your business will likely choose from a limited liability company – commonly known as an LLC, a corporation – either a Subchapter  S or C, a limited liability partnership – an LLP, or a sole proprietorship. Each choice has its own unique legal requirements, documents, and filings. Whichever entity is the right choice for your new business, I will ensure that is formed properly and promptly.

Corporation

$575 plus state filing fees

A corporation is an entity that is separate and apart from its owners – known as shareholders. A corporation provides limited liability to its shareholders – meaning the business is responsible for its own actions. A corporation is a good choice if the business will require outside investors, particularly venture capital, or will become public. Corporations come in two varieties: C and S. These are IRS tax classifications, and the choice will determine how the corporation is taxed.

Includes:

  • Verify business name availability
  • Preparation and filing of organizational documents
  • Bylaws
  • Obtaining a Federal Tax ID number
  • Obtaining NY Certificate of Authority (if applicable)
  • Personalized advice from a licensed New York business attorney – always included
    Custom Shareholder Agreement
$350

Limited Liability Company

$425 plus state filing fees Single Member

$575 plus state filing fees Multi-Member

$775 plus state filing fees Manager Managed

A limited liability company – LLC – is an increasingly popular choice, especially for a small business with few partners and no outside investors. The owners of an LLC are called members. An LLC allows for more flexibility when it comes to taxes, with the option to be taxed as a partnership, a corporation, or a disregarded entity for a single member LLC. An LLC also allows for more flexibility in operations with fewer formalities than a corporation.

Includes:

  • Verify business name availability
  • Preparation and filing of organizational documents
  • Custom operating agreement
  • Obtaining a Federal Tax ID number
  • Obtaining NY Certificate of Authority (if applicable)
  • Does not include NYS required publication fees
  • Personalized advice from a licensed New York business attorney – always included