Corporations, Limited Liability Companies & Partnerships
Wild Carter & Tipton realizes that even the most intelligent entrepreneurs can use some help when it comes to managing a business. Whether you’re looking to protect yourself from liability or you need litigation services, we have the capacity to help.
If you’re an individual starting a new business, we can assist you in deciding which type of legal entity and tax structure would best suit your needs for long term growth. Because the type of entity chosen for a business conceivably affects every aspect of its operation, it is imperative that you work with a professional law corporation like Wild, Carter & Tipton to properly guide you through your options and assist you with formation and execution.
How we can Assist You With Corporations, limited liability companies, and Partnerships
Wild, Carter & Tipton can provide expertise on a wide variety of business entities. Below are the types of entities we can assist you in forming.
Corporations
Close Corporation
C Corporation
S Corporation
Professional Corporation
Limited Liability Companies
Manager Managed
Member Managed
Partnerships
General Partnerships
Limited Partnerships
Corporations, Limited Liability Companies, or Partnerships: Which is the Best Strategy?
After your entity is formed, Wild, Carter & Tipton can continue to perform additional services related to the operation of your business. For example, a corporation will be obligated to perform certain corporate functions on a continuing basis such as holding an annual meeting, keeping minutes on what had occurred in the meeting, and filing an annual report and paying a fee to the state in which it is incorporated. Failure to complete these obligations may result in the lapse of the corporation; the shareholders may become liable for any outstanding debt that the corporation has acquired.
Partnerships, in comparison to forming other entities, tend to be inexpensive and relatively easy to form and maintain. However, there are some issues that Wild, Carter & Tipton can help you navigate such as the partnership agreement, liability issues, allocation of profits, and taxation as it relates to allocation of profits.
If you want to discuss the difference between a corporation and a limited liability company, or you have a partnership that you’d like to incorporate for liability and tax reasons call Wild, Carter & Tipton and have your questions answered by an attorney.
