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Entity Formation and Dissolution
When starting a business, one of the first issues that comes up is the type of business entity to use. In California, a business can operate as a corporation, LLC (limited liability company), sole proprietorship, partnership, limited partnership, or LLP (limited liability partnership).
Selecting the proper business entity type involves analyzing a number of criteria, including:
- The number of owners
- The product or service being provided
- Start-up costs
- The potential risks and liabilities of the business
- The manner in which the business will be taxed by the federal, state, and local taxing authorities
- The manner in which income and expenses will be allocated between owners
Omni Law Group can help you choose the right entity for your situation. We can also prepare and file all of the paperwork necessary to legally form the business, and work with the owners in drafting documents such as articles of incorporation, bylaws, buy-sell agreements, stock option plans, and employment agreements.
When a business has “run its course” and the owners desire to dissolve it, Omni Law Group can manage the tedious dissolution process. This often involves filing paperwork with a variety of governmental agencies, analyzing liquidation provisions, working with accountants, and advising as to the tax consequences of the transaction.
Let Omni Law Group provide you with the sound business advice your business needs no matter where your business is in its lifecycle.
