Top Things to Consider When Choosing Entity Incorporation
Top Things to Consider When Incorporating a Business
You’ve worked hard to get to where you are. Protect your personal assets from your business debts and obligations by incorporating. We provide counsel to entrepreneurs on what legal, tax, and operational implications are for any given entity selection. In order to guide our clients to success, we anticipate your needs, obstacles, and strategies that you may face as your business grows.
In determining which entity is right for you when incorporating a business we typically consider these facts:
- The intended ownership and management structures of the business
- Present versus future plans for your business (growth potential)
- The protection of business and personal assets
- Size of investment; third party financing
- Opting in and out of specific Florida statues
- Duties of co-owners and mangers
- Nature of the business
One of the best indicators to help you choose the right entity when incorporating a business is by looking at how your competitors are organized. For example, if all your competitors are partnerships and you incorporate as a C corporation, you will have a tax disadvantage of your competitors and you may not know significant drawbacks until your business starts operating.
Looking to start a business or grow your current business? Contact FL Patel Law today by visiting our website or calling 727-279-5037.