Business Formation
Fort Myers Business Formation Attorney
For a business to be successful, it must be set up for success from the very beginning. Regardless of the sector or size of your company, you are sure to encounter unique obstacles, contract requirements, and legal considerations that will require the assistance of a skilled business formation attorney.
At McIntyre & Bermudez, PLLC, we provide legal assistance from the initial inception of a business and throughout its continued growth and development. Our attorneys assist entrepreneurs and start-up firms in navigating the many challenges that come with starting a new business, including mergers and acquisitions, corporate restructuring, and succession planning. We are with you every step of the way, from entity formation, funding, and contracts to continuing operational guidance.
If you’re looking to form a business, choose the experienced Fort Myers business attorneys at McIntyre & Bermudez, PLLC to help you through the process. We’ll get you up and running and on the road to success in no time. Feel free to call us at 239.935.8426 to learn more.
Lawyer for Business Startup
The first step in a successful business startup should always be to gain the help of knowledgeable legal counsel. An attorney who specializes in Florida business law services can protect your startup company from things like compliance matters, personnel troubles, tax problems, and a slew of other potential legal concerns.
Having a lawyer on board in the formation of your business can provide you with a number of useful insights and necessary advice. Our attorneys have a depth of experience working with start-ups in a variety of industries, from small shops to large corporations. Some of what we’ll assess includes your:
- Company goals
- Business plan
- Florida business contracts
- Financial concerns
- Employee and management issues
- Capital investment and infrastructure
- Regulation and compliance requirements
- Florida business litigation services
After considering all potential elements of your business, our start-up attorneys will propose a structure that will best protect your interests while providing legal assistance that will have a continuing influence on the soundness of your company’s formation and the seamless functioning of day-to-day activities.
Types of Business Entities
One of the first things that must be established when setting up a business in Florida is choosing your type of business entity. The most popular business entity choices are sole proprietorship, limited liability company (LLC), a general partnership, and a corporation. There are pros and cons to each option and a variety of factors to consider before heading in any one direction. Below, we’ll include the pros and cons of each of these four options.
Sole Proprietorship
An unincorporated firm with only one owner who pays personal income tax on the company’s profits.
PROS
- Easiest type of business to form and dissolve
- Not required to file anything with the state of Florida (lack of government regulation)
- Useful for low-risk business startups
CONS
- Does not provide limited liability
- Debts of sole proprietorship = debts of the owner
- Difficult to acquire capital funding
Limited Liability Company (LLC)
The most common business entity in the United States that combines the characteristics of a partnership or sole proprietorship with those of a corporation.
PROS
- More flexibility than a corporation and more protection than a sole proprietorship
- Allows tax elections based on the number of members involved
- Required paperwork is relatively straightforward and easy to file
CONS
- Limited ability to obtain outside investment to raise capital
- Requires maintenance and annual fees
General Partnership
An arrangement in which two or more partners agree to share financial and legal liabilities as well as all assets and profits.
PROS
- Less expensive than an LLC or a corporation
- Not required to pay income tax
- Significantly less paperwork than a corporation
CONS
- No limited liability, meaning there is personal liability for all obligations and debts
- Having partners of equal responsibility and power can cause problems to arise
- Partnership is terminated upon withdrawal or death of one of the partners
Corporation
A company authorized to act as a single legal entity separate from its owners. The most common types of corporations are C-corps and S-corps.
PROS
- Offers the strongest liability protection for owners
- Easy to buy, sell, and transfer ownership
- Highest access to capital funding
- S-corps offer tax benefits
CONS
- Extensive application process and paperwork
- Most expensive entity to form and operate
- Strict legal formalities, requirements, and protocols
- C-corps are double taxed
Setting Up a Business in Florida? The McIntyre & Bermudez, PLLC Can Help!
At McIntyre & Bermudez, PLLC, our clients greatly benefit from our customized approach and cost-effective solutions. You won’t have to pay for in-house counsel; instead, depend on our team of experienced startup attorneys to limit your liability and maximize the potential of your new company. If you seek to form a business in the state of Florida, reach out to our Fort Myers business formation attorneys here at McIntyre & Bermudez, PLLC. To get started, give us a call at 239.935.8426 or fill out our online intake form to schedule your consultation today.
