Corporate and Business Law

Clients purchasing or starting a business often only see the opportunities that such business offers. Clients are often unaware of the state and federal requirements for forming or operating such business. The choice of the entity to operate such business is one of the most important decisions a business owner makes. It is critical that you make a smart decision in selecting your business entity. There are significant differences in the liability, operation and taxation of various business entities. A business can operate as a sole proprietorship, partnership, limited partnership, limited liability company, professional association, limited liability partnership or a corporation. A business can be taxed as a sole proprietorship, partnership, S corporation or C corporation.

The taxation of the purchase or sale of a business varies significantly between the different entities. Taxation can also vary between the sale or purchase of the assets of the entity and the sale or purchase of an interest in the same entity.

In addition, state law requires that certain entities must meet certain conditions to maintain their limited liability protection.

Shareholder agreements and voting trusts can be used to minimize disputes and limit the admission of new owners without the consent of the other owners.

Thomas A. Moseley, Chartered can advise you regarding proper entity selection. We can also assist you with the proper tax elections. If you are purchasing or selling a business, we can protect and guide you through the process. We can also assist you in complying with state law requirements for your entity. In addition, we can help you plan to minimize the disputes between business owners.