From partnerships and joint ventures to limited liability companies and corporations, White and Bright's business attorneys handle every aspect of entity formation, including: drafting the agreements, bylaws, and buy-sells; filing the necessary paperwork with the State of California and IRS; and funding the entity.
What kind of business entity should you use? You can run a business as a sole proprietorship, a partnership, a limited partnership (LP), a limited liability partnership (LLP), a limited liability company (LLC), or a corporation. If you are considering forming a corporation, should you elect “S” status? How should the financing be allocated between debt and equity? How often should the managers have a summit meeting, and how should those meetings be recorded? Our transactional professionals have years of experience to help you decide how to form your business entity.
In determining what choice of entity best meets each individual client’s goals, we work closely with not only our clients, but their other advisors. We have very good working relationships with our clients’ CPAs and rely heavily on these professionals to determine the best tax structure for the client’s particular business. We also work closely with our client’s estate planning attorneys, regardless of whether they are with White and Bright or not.
After formation, we can assist with ongoing maintenance by advising the client on the requirements or actually maintaining the entity documents in our offices. Liability protection, tax implications, and how to best pass the business on to the next generation are all important factors that are taken into account.
We welcome you to contact us to discuss setting up your new business venture for success from inception through sale or succession.