Corporations & LLCs
Businesses, whether new or existing, have many choices to make, and one of them is “entity selection.” As an experienced business attorney, Mr. Andersen can discuss with you the pros and cons of conducting business in various available forms, and once a decision is made, you will receive proper follow-through to ensure that you have observed the necessary formalities and are in a position to receive the benefits of doing business in the form selected.
With corporations, we will explain what you have to do to receive the asset protection that is often a primary reason for doing business in this format. You will receive step by step guidance as we prepare your customized articles of incorporation, bylaws, action by incorporator, minutes of the first meeting of your board of directors, and handle the issuance of stock in your corporation. You will receive advice on the difference between taxation as a “C” corporation and taxation if you make a Subchapter S election. General Counsel, PC has a unique corporate maintenance program that helps ensure that you will continue to comply with all corporate requirements and receive the asset protection you desire. This program is not only of benefit to newly organized corporations but to existing corporations that become new clients of General Counsel, PC to take advantage of the corporate and transactional services we offer. We have assisted numerous clients who began the incorporation process with a discount online service, but who realized that there were necessary steps that hadn’t been taken and that the personal attention and guidance needed was lacking in the form-selling, high-volume internet vendor they had originally selected.
Mr. Andersen has formed regular corporations, statutory close corporations, professional corporations, and non-profit corporations, including applications for non-profit tax-exempt status.
Mr. Andersen has also formed many limited liability companies, from single member LLC’s to multi-member LLC’s. Again, as with corporations, you receive personal service and an operating agreement customized to your needs.
We repair defective corporations and LLC’s. The DIY trend resulting in form articles of incorporation and articles of organization being filed by accountants, bookkeepers, and by individuals through various online services, has led to many incomplete entities that offer no asset protection, that are merely the alter egos of their incorporators, do not observe the necessary formalities, are not maintained, and ultimately are often suspended for failure to make routine filings. Sometimes we find that stock has never been issued in such corporations. We can review your materials, determine what has or hasn’t been done and what is needed to complete the process, so that you have the entity and the protection you expected.
There are some situations in which a general or limited partnership may be the most desirable form for your business, and if so, we can prepare the necessary partnership agreement and ancillary documents. Even if you elect to do business as a sole proprietor, we can advise you on the steps to take to get your business started successfully and to protect your business name.