Business Formation Attorney in Boca Raton
When it comes to your business, you want to be sure everything is done
legally and efficiently. This ensures a maximum return on investment for
your efforts. When it comes to creating a new business, or business formation,
the steps you take can greatly affect your ability to grow later down the line.
For those of you out there who are new to business formation, we have listed
the answers to some of the most frequently asked questions about creating
a business. For additional information, contact our firm by calling
(561) 564-0233 today.
LLC vs Corporation
Unless you are doing private contracting, chances are your business will
operate either as an LLC (Limited Liability Company) or a corporation.
How a business is run is largely determined by which classification you
choose to file under.
What Are LLC’s?
LLC’s offer corporate liability protections, but instead of operating
as a corporation, are taxed either as a sole proprietorship or as a partnership.
This gives owners protection from the business’ debts, separating
personal and business funds. In an LLC, the owners of the company are
referred to as “members”, while the people who operate it
on a day-to-day basis are referred to as “managers”. An LLC
can be managed by all of its members, in which case it would be member
managed. Or, it can be managed by a group of managers, who may or may
not happen to also be members (owners) of the company.
To form an LLC, Articles of Organization must be filed with the Secretary
of State by submitting either an oral or written Operating Agreement.
While an LLC is typically easier to form than a corporation, there are
still legal requirements and certain procedures to follow that can make
it tricky. To ensure that your business is setup properly for future growth
and maximum return on investment, it is best to call a business lawyer
to help with its creation.
What Are Corporations?
Unlike an LLC, a corporation is formed solely for the benefits of its shareholders,
or owners. These shareholders elect a Board of Directors every year to
make the big decisions for the corporation. Officers are appointed by
the Board of Directors to enforce the day-to-day operations of the company.
This is where positions like Chief Executive Officer and Chief Financial
Officer come from.
Filing for corporation status is much more intensive than filing for an
LLC. It starts with filing Articles of Incorporation to the Secretary
of State, but it doesn’t end there. It is important to have a business
lawyer in your corner when filing for corporation status, as there are
constant ongoing legal requirements to deal with as a corporation.
Reach Out to Our Firm Today
Are you looking for a business lawyer in Boca Raton to help with business
formation? Give Chad J. Robinson a call today for more information! We’ll
be happy to go over how our services can benefit you. We look forward
to hearing from you!
Schedule your consultation by calling our office at
(561) 564-0233 or
completing our online form.