Corporation & Partnerships
Corporate and Business Law Attorneys to assist you on a variety of business matters.
Incorporating your business is one of the best ways to protect your personal assets from risks associated with claims against your business. Maintaining protection against liability also requires care and attention
There is a myriad of different types of corporate entities to use. Selecting the right one is critical.
Generally, corporate entities and their owners are or members are governed by their own by-laws and articles. Their documents must be in record with Florida law. There governing documents may be looked to for guidance and for resolution of disputes related to operations of the corporate entities, decision making authority, ownership and buy out rights and other critical elements related to corporate governance.
Our corporate attorneys have extensive experience in the formation and operation of corporate entities, including ongoing representation for all legal issues which arise in the operation of a business, whether it is under the umbrella of a corporation, partnership, limited liability company or variations of the same.
Some issues you need to consider when starting a business are:
- What is the best business entity type for your situation?
- Are there options which can help minimize your tax burden?
- How is the best way to protect your personal or business assets from liability?
- How can you plan for a future transition of the business ownership?
- How can management deadlocks be avoided between and among co-owners?
Our corporate attorneys can help analyze these issues for your particular circumstances and help prepare all the necessary documents.
If you are purchasing or selling a business, our attorneys can help you understand what needs to be in the agreement to protect your interests, minimize liability exposure and optimize tax treatment.
Such transactions need to be well-documented to avoid disputes arising out of the agreement or after the closing of the transactions
For relatively simple transactions you may fill out our online Business Questionnaire which will assist us in responding to your questions
Frequently Asked Questions
What is the difference between a C corporation and an S corporation?
In short, taxes. The majority of large, publicly held corporations are C corporations. Some corporations are able to eligible to file an election (Form 2553) that will let the corporation be taxed under rules that are more like that of an LLC. Corporations that use this type of taxation are S corporations. Only certain corporations meet the tax requirements to become S corporations. If C corporations pay their shareholders dividends, the corporation will face double taxation. A C corporation will pay taxes on its profits before paying out its dividends to the shareholders, and the shareholders will then have to pay taxes when filing their individual tax returns. S corporations are not subject to double taxation as long as the requirements are met, and the shareholders are protected from corporate debts.
What is a corporation?
Corporations are business entities that protect their shareholders by allowing limited liability so that the assets they invest in the business tend to be the only assets placed at stake, leaving personal assets of the shareholders safe from any losses the corporation may incur. Corporations are composed of three different types of people, with different levels of involvement. There are the shareholders, who vote on major corporate changes and elect directors. Directors are responsible for managing the business overall, and hire the CEO and other corporate officers. The CEO and the corporate officers are in charge of the business’s everyday operations.
I'm thinking of starting my own business. What are some of the issues I should be considering before making any big decisions?
Before anything else, consider what type of business entity is right for the business type. There are sole proprietorships, partnerships, corporations, and limited liability corporations (LLCs). The size and type of business being conducted will likely help determining which type of business entity will be the best fit. There are different advantages and disadvantages to each type of business entity.
How can We Help
Bogin, Munns & Munns Can Help with Your Corporations & Partnerships Matter
Fill out our online Business Questionnaire to receive a free telephone discussion with one of our experienced business law attorneys, or call our Central Florida corporate attorneys at 407.578.1334 to contact a representative in one of our offices nearest you: Clermont, Daytona, Orange City, Titusville, Gainesville, Kissimmee, Leesburg, Melbourne, Ocala, or The Villages.
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Request a consultation by filling out the form below, or call us at 855.686.6752. We have over a dozen offices located in Orlando and across Central Florida. We’re happy to answer any of your questions.