Business Formation – What Legal Entity – LLC, S-Corp, C-Corp, Partnership?
Years ago, the corporation was the way to go if an investor wanted to shield him or herself from personal liability for the operations of the business. But this did not come without sacrifice. There were issues of double taxation where the income of the corporation was taxed before any profits could be paid to investors (which were then taxed again as personal income tax). Now things have changed. Oklahoma now allows for LLCs or Limited Liability Companies. However, as you can imagine there are pros and cons for the LLC over the C-Corp or the S-Corp. That is why contacting a qualified business formation attorney is critical to the success of you and your company. It is often far more difficult to undo a bad business decision than it is to consult a qualified Tulsa Business Attorney who can guide your business through its formation ever step of the way. Contact the Denton Law Firm today for a free consultation: (918) 631-7181.
Even though LLCs and corporations are generally the preferred business types, your situation might fall into the rare instance where a sole proprietorship is the preferred business entity for your situation. The key is meeting with a competent Tulsa business attorney who can ask you the right questions, evaluate your answer, and establish the proper legal business entity so that you are protected from liability and taxes to the greatest extent possible. The Denton Law Firm is your Tulsa and Oklahoma business law firm that can protect you from liability and taxes and help you through the complicated process of business formation.
Contact the Denton Law Firm to set up a consultation with a Tulsa Business Entity attorney who can assist you in the important task of setting up your business. (918) 631-7181.