What Should Business Owners Know?
When you establish a business, you are required to establish a legal entity formation. An entity formation determines your form of business for legal and tax purposes. The attorneys at Block & Scarpa can help you establish an entity in the state of Florida that will make the most sense based on your business type and potential tax savings.
South Florida entrepreneurs have an important choice to make when forming a new business. The law allows new entities to take several forms, including:
- Sole proprietorship
- Limited liability corporation, known as an LLC
Each business entity has its advantages and disadvantages. Determining the right one for your new company depends on several factors, such as the number of partners involved, the industry you are entering, the potential for growth and your long-term goals. The wrong choice can expose you to personal liability or excessive taxes, and affect your flexibility to make changes. One of our highly experienced business lawyers will explain your options to you so you can choose a formation that fits you best. We will handle all the necessary paperwork to get your business registered properly. Beckett Horner, one of our attorneys, also holds an L.L.M. in taxation, giving our team a close insight into how business formation and tax law intersect.