Corporation Formation Lawyer
Are you planning to incorporate a new business? Is limiting your liability a paramount concern? If yes, then a corporation may be the best and feasible choice when creating a business entity. A corporation can be best described as a legal entity that is distinct and separate from its owners and created exclusively for business purposes. New Jersey law allows for many types of corporate entities with different levels of tax implications and benefits. So, before you move forward, it is best to hire a qualified corporation formation lawyer.
Our attorney Kevork George Adanas is experienced in this domain. We have helped hundreds of business owners and entrepreneurs across New Jersey with selecting, setting-up and starting their corporation without any legal complexity. We can help you too. At The Law Office of Kevork Adanas, P.C.. our lawyer can guide you through the legal process and provide the best advice on what entity is best for your business operations.
We will help you navigate obstacles and challenges that may come your way when forming a corporation in New Jersey. To get started, simply complete and submit our corporation order form. This will help us provide you with quality guidance and consultation, thereby helping you move toward forming your company.
Our corporation formation lawyer will help you every step of the way. Our services include but are not limited to:
- Helping clients select the right type of corporation
- Selecting a business name for your corporation and check availability
- Preparing your company's Certificate of Incorporation
- Filing it with the New Jersey Department of Revenue
- Drafting your corporation's bylaws
- Assisting you with obtaining all necessary licenses
- Obtaining an Employer Identification Number (EIN) from the IRS
- If needed, file an S Corporation election with the federal government and State of New Jersey
S or C Corporation—What's the Difference?
An S-Corp is not taxed while a C-Corp is taxed as a separate entity. Therefore, a C-Corp must report its profit and loss on a corporate tax return. In other words, a C-Corp pays taxes on its business profits. Once the tax is paid, then it can distribute the remaining profits to its shareholders. The shareholders, on the other hand, are taxed on their dividends so the profits are taxed twice.
With S-Corporation, you can circumvent the double taxation. S-Corp doesn't pay income taxes by itself; instead, shareholders must include their corporation profit share on their tax returns. So, if a loss is incurred, shareholders can easily offset other income by deducting their corporate losses. However, an S-Corp must be filed with the IRS within 60 days of formation.
For more information or corporation formation assistance, contact us today. We can answer all your queries to your complete satisfaction and provide you with quality legal guidance for corporation formation.