As business owners ourselves, we understand the entrepreneurial trajectory better than many attorneys you’ll find in NYC, trained in the law, but with little practical knowledge of what a start-up is facing down on the front end. One of the first decisions that you will have to make as a business owner is how your company should be structured. No one legal structure is best for all small businesses. The laws surrounding business startups in New York can be quite complicated. There are many important decisions that must be made regarding your company that will drastically affect how you and your business are taxed.
To learn more, contact our New York-based law firm. We are Pierce & Kwok LLP.
Advising on Entity Choice Across the U.S.
- Your vision regarding the size and nature of your business
- Number of co-owners of the business and employees in the business
- Relationship between owners, staff, and management
- Extent to which you will seek outside investors via both debt and/or equity
- The level of “structure” and formality you are prepared to manage
- Expense, in both time and money, of forming and maintaining your business entity
- The business’s vulnerability to lawsuits and other liability limitations and exposures
- Tax implications of the different ownership structures, both as owner and potentially as your own employee – incorporated and unincorporated entities are taxed very differently
- Expected profit (or loss) of the business over the long term
- Whether or not you expect to re-invest earnings back into the business
- Your need for access to cash from the business for personal use
Pierce & Kwok LLP
Need More Information Regarding Forming Your Business?
If you have any questions regarding business startup law in New York, New Jersey, or California, or D.C. do not hesitate to contact our lawyers online today. We enjoy our consulting work, and the first consultation is on us.
