Formation Of Business Entities
Are you starting a business? Let our business attorneys guide you through the process of selecting and registering a business entity and preparing business agreements between you and your partners. Below is a list of the most common types of entities you can open in New York, the price of opening each entity and information on what is included and not included in that price. Please contact us to schedule your free consultation today.
C CORPORATION ($750 + FILING FEES)
WHAT’S INCLUDED:
- Advising on the pros/cons of opening a Corporation
- Preparation & Filing of Organizational Documents.
- “Corporate Kit” that includes (1) stock certificates, (2) a corporate stamp, (3) corporate minutes and (4) standard governing documents
- Obtaining a Federal Tax ID number (i.e. a “social security number” for your business)
- Advising on future legal considerations (including tax consequences & hiring employees)
WHAT’S NOT INCLUDED:
- Business Licenses
- Customized Shareholder Agreement (to govern the relationship between 2 or more shareholders)
- Filing Fees
S CORPORATION ($750 + FILING FEES)
WHAT’S INCLUDED:
- Advising on the pros/cons of opening a Corporation
- Preparation & Filing of Organizational Documents.
- “Corporate Kit” that includes (1) stock certificates, (2) a corporate stamp, (3) corporate minutes and (4) standard governing documents
- Obtaining a Federal Tax ID number (i.e. a “social security number” for your business)
- Advising on future legal considerations (including tax consequences & hiring employees)
- Filing a Subchapter S election with the IRS
WHAT’S NOT INCLUDED:
- Business Licenses
- Customized Shareholder Agreement (to govern the relationship between 2 or more shareholders)
- Filing Fees
LIMITED LIABILITY COMPANY (LLC) ($750 + FILING FEES)
WHAT’S INCLUDED:
- Advising on the pros/cons of opening a Limited Liability Company
- Preparation of Organizational Documents.
- Filing Fee and the filing of Organization Documents
- “LLC Kit” that includes (1) membership certificates, (2) an LLC stamp, (3) LLC minutes and (4) standard governing documents
- Obtaining a Federal Tax ID number (i.e. a “social security number” for your business)
- Advising on future legal considerations (including tax consequences & hiring employees)
WHAT’S NOT INCLUDED:
- Business Licenses
- Customized Membership Agreement (to govern the relationship between 2 or more shareholders)
- Filing Fees
- Publication*
LIMITED LIABILITY PARTNERSHIP (LLP) ($750 + FILING FEES)
WHAT’S INCLUDED:
- Advising on the pros/cons of opening a Limited Liability Partnership
- Preparation of Organizational Documents.
- Filing Fee and the filing of Organization Documents
- “LLP Kit” that includes (1) membership certificates, (2) an LLP stamp, (3) LLCP minutes and (4) standard governing documents
- Obtaining a Federal Tax ID number (i.e. a “social security number” for your business)
- Advising on future legal considerations (including tax consequences & hiring employees)
WHAT’S NOT INCLUDED:
- Business Licenses
- Customized Partnership Agreement (to govern the relationship between 2 or more shareholders)
- Filing Fees
- Publication*
* Pursuant to NY law, all LLC’s & LLP’s must publish their creation in 2 newspapers within 120 days after creation. The newspaper publication fees and subsequent filing of the publication receipt with the State costs between $400 & $1400. We have no control over this pricing and this money is not paid to us.
WARNING:
Many individuals choose to incorporate using the services of a non-legal professional, such as an accountant. While we do not question the competence of most accountants, the simple fact is that they do not provide legal advice. Neither do non-law firm companies that offer incorporation services.
Such other professionals and incorporation companies have standard, non-customized forms that they use to form your business entity.
Unlike such individuals and companies, we provide you with the following:
- Face to face consultation and legal advice regarding the type of business entity that best fits your needs.
- Custom tailored organizational documents to fit your particular business.
- Actual knowledge of New York law.
- Legal advice regarding the future of your business.
Why spend thousands of dollars and years of work to develop your business only to find out that it was not properly registered? Do not use anon-qualified company or professional to register your entity simply to save a few dollars today.
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