Springfield Small Business Attorney
If you are starting a business, the choices you make at the beginning of the process will have a large impact your business down the road. Talk to an experienced business law attorney before you choose a structure for your company. A business lawyer can help you understand your options and take care of the necessary legal arrangements for registering your company with the state.
Contact an Illinois business organizations attorney at the Lincoln law office of Muck & Muck, Attorneys and Counselors at Law.
Options for Organizing a Business in Illinois
There are several things to consider when choosing a structure for your new business organization, including the degree of control you wish to maintain over your business, the management structure, and the level of personal financial risk you are willing to assume.
The simplest way to organize a business is as a sole proprietorship or a partnership. In a sole proprietorship or small partnership you maintain a great deal of control over your business and its activities. The drawback to this type of business organization is that you carry an increased risk for liabilities stemming from the business's activities.
There is also the option of filing as a limited liability company (LLC) or limited liability partnership (LLP) An LLC is the non-corporate form of doing business that provides its owners with limited liability, special tax treatment and flexibility in operation and management of the business. The LLC is well suited for most types of businesses. Under an LLP, partners are not liable for debts, obligations and liabilities of the partnership arising from negligence or malpractice committed during the partnership.
Finally, we can help you file as a subchapter S corporation or a C corporation. Organizationally, a corporation is a legal "person" that conducts business, can sue or be sued, and is taxed separately from its owners and shareholders. A subchapter S corporation is intended for smaller businesses.
Legal Filings and Transactions
Several legal forms are required to create your business organization. It is important for you use the assistance of a lawyer to prepare these documents to avoid questions of formation in the future. We will advise you on the most appropriate way to organize your business, take care of the necessary legal steps for you and make sure the process goes smoothly.
60 Years of Experience on Your Side
Our 60 years of combined experience handling business law matters allows us to provide practical and effective advice to help clients get new businesses off the ground and to protect our clients' interests as their small business moves forward.
Contact an attorney to organize a small business in Lincoln today.
Muck & Muck, Attorneys and Counselors at Law
207 S. McLean St.
Lincoln, IL 62656