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Once you decided to form a business entity such as a Partnership, a Corporation or Sole proprietorship, there are three professions you should consult with: A lawyer, an accountant and an insurance agent. Deciding what form of business entity to choose is very important and often will depend on the type of business that the entity will engage in. There are presently advantages that each type offers and within a particular type of business entity, there are more choices. For example, a company as a "C" corporation, an "S" Corporation or an Limited Liability Company (LLC). A partnership can be General, Limited or a Limited Liability Partnership as examples. Each form of business entity has certain characteristics which may make one choice more suitable than another, and before making a decision, a lawyer with business formation can be a valuable resource. For answers to the many questions you may have, including post formation duties and obligations please contact us. FOR
ADDITIONAL INFORMATION CALL THE TOLL FREE HELP LINE 1-800-232-1477 E-mail: lawyer@lawwalk.com JAMES
W. PEARSON, JR. Chair of the Federal & State Credit Union Department & Coordinator of legal consultations under the Family Legal Care Plans offered to credit union members. |
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