Small Business Formation Attorney in Cary
Helping Cary entrepreneurs form LLCs and corporations in accordance with North Carolina law since 1995.
Forming an LLC or S corporation protects your personal assets, your home, and your savings from business liability while opening the door to pass through tax treatment. The Doyle Law Offices has guided Wake County entrepreneurs through entity selection and formation since 1995, and connects clients with a trusted network of CPAs Hank Doyle has built locally.
Call (984) 235-1067 or complete the form below to request a consultation where an attorney can talk you through the right structure for your business.
Should I Incorporate My Small Business?
There are two primary considerations in making the decision to incorporate or set up an LLC:
1. Liability Protection
Sole proprietors run tremendous risks every day as they operate their businesses. When a business is operated as a sole proprietorship, the owner can be held personally responsible if anything goes wrong.
If the business gets sued, if there is an accident or if the business fails, the individual owner could find his or her personal assets to be in jeopardy. This means the home, the savings and everything a person has worked for over a lifetime could be wiped out.
A properly formed and operated business entity, like an S – corporation or LLC, can shield personal assets from liability in the event of a business reversal or accident.
2. Taxes
Properly formed S-corporations and LLCs can be classified so that they have what is known as “pass – through” tax liability. This means that the profit (or loss) of the business will pass through to the owner’s personal return.
There would be no corporate taxes. There are many other advantageous tax considerations to running a business as a corporation or LLC as opposed to being a sole proprietorship.
Incorporation Process
There are several steps that need to be taken in order for your corporation or LLC to be ready to do business. For LLC's you must file Articles of Organization, whereas for corporations you need to file Articles of Incorporation. While a corporation is more formal, owned by shareholders and managed by a board of directors; an LLC has less formalities and tends to be less regimented. With numerous steps in a complex process, contact our incorporation lawyer for advice and assistance.
Why Choose The Doyle Law Offices for Your Small Business
What makes us so different? Attorney Hank Doyle spent over twenty years building a referral network of experienced CPAs and other professionals to provide our small business clients with all the tools they need to be get started, grow and be successful in this challenging economic climate.
