Corporation Formation Lawyer
Every entrepreneur starts a business with the hope of achieving lasting financial success. Before you start your new business, it is simply critical to select and establish the type of corporate entity that best meets your needs. The failure to establish proper corporate formalities can needlessly lead to personal liability. A knowledgeable lawyer will be vital in taking the appropriate steps to establish your corporation.
Fort Lee corporation formation attorney Kevork George Adanas has helped entrepreneurs and business owners across New Jersey with the legal processes involved in starting a corporation. Our law firm is focused on helping new businesses hit the ground running. We will help you understand the legal and practical matters involved in selecting an entity and help advise you about what entity works best for your operations.
We fully understand the various obstacles businesses face in today’s challenging environment. We know that businesses of all sizes in all industries crave certainty. In many cases, hourly legal fees can lead to uncertainty. One way our law firm helps businesses is by offering flat-fee services. By knowing upfront how much it will cost for our firm’s services, our clients’ will know exactly what they are receiving for their money.
In many cases, forming a corporation is as easy as completing our corporation order form. Please view our online corporate easy-fax order form. Complete the information contained in the form and return it to our law firm to get started.
S Corporation Or C Corporation? What Is Best For My Company?
At the law office of Kevork Adanas, P.C., we understand the legal and practical realities in determining what type of corporation will best meet a company’s needs. The two types of corporations are S Corporations (S-corp) and C Corporations (C-corp).
There are many similarities and differences between these two entities. First, the similarities.
- S-corps and C-corps will protect shareholders from personal liability for corporate debts.
- S-corps and C-corps are both managed by a board of directors, who are elected by shareholdrs. The corporate officers, who are appointed by the directors, take on the daily management of the company.
- S-corps and C-corps must follow similar corporate formalities in terms of board meetings, annual reports and minutes.
Of the many differences between an S-corp and a C-corp, perhaps this difference is the most critical. With an S-corp, the entity is not taxed. Instead, the shareholders are taxed directly on any corporate income. C corps are taxed, and only dividends are taxed at the individual level. There are other differences as well. S-corps are limited to having more than 100 shareholders, and nonresident aliens cannot hold shares in an S-corp. Further, an S-corp must be filed with the IRS within 60 days of formation. We also represent businesses that want to form a limited liability company (LLC).