Entity Selection and Formation
Business Formation and Entity Selection in New York
The selection of the proper business entity is a critical piece of the process during the formation of any business and can have significant long-term implications. It is important for business owners to make the right decisions regarding how that business begins.
At the law firm of J&G Law, LLP our experienced business lawyers have helped owners in the Mid-Hudson Valley and throughout the state of New York successfully start their businesses and make the right decisions about entity selection and other formation issues. Founded in 1968, our firm can help you review your circumstances and explore all of your options so that you can accomplish all of your business goals.
Meet Your Business Needs With Effective Planning
Determining what business entity will best meet your immediate and long-term needs is not always clear. Our firm can ease any confusion concerning entity selection and formation. We have helped all types of businesses, including:
- Sole proprietorships
- Partnerships
- General partnerships
- Limited partnerships
- Family limited partnerships
- Corporations
- Limited liability companies (LLCs)
- Professional corporations & LLCs
- Benefit corporations
Get It Right the First Time
- Filing all necessary documents with the IRS and New York State
- Initial and additional capital contributions
- Consequences of failing to make additional capital contributions
- Debt financing
- Assignment of duties
- Consequences of failing to perform duties
- Personal guarantees
- Deadlock resolution mechanisms
- Salaries and benefits
- Draws for taxes on phantom income
- Variable returns on investment and distributions
- Restrictions on equity transfers
- Starting new lines of business
- Adding new investors
- Multiple classes of equity
- Trademarks, patents, and copyrights
- Retirement and withdrawal
- Consequences of death or disability
- Determining buyout price
- Providing for term life and other insurance
- Triggers for mandatory dissolution
At J&G we properly form and reorganize partnerships, corporations, and LLCs in real estate, construction, manufacturing, transportation, health care, human services, education and training, technology, architecture, engineering, accounting, media, retail, agriculture, natural resources, equine, the arts, culture, entertainment, and more.
If you’re not sure exactly what structure to use, we’ll help you think it through, including such options as licensing, franchising, subsidiaries, affiliates, nonprofits, benefit corporations, and Delaware trusts. For existing companies, we can assist with sales, acquisitions, financing, restructuring, mergers and consolidations, and succession planning. Also, operational matters such as employment, contracting, leasing, licensing, tax planning, real estate, land use, compliance, and dealing with the IRS.
When forming a partnership, corporation, or LLC, get it right the first time with J&G.
Contact Our Firm to Start Your Business the Right Way
For more information about our entity selection counsel, contact us at the law firm of J&G Law to talk with an attorney about business formation in New York. Call us to schedule an appointment for an initial consultation at 845-764-9656.
