Choose the right structure.
When forming a business, one of the first and most important decisions to make is the structure you will use. A business structure is the legal classification of a business that determines taxes, liability, and other legal rights and responsibilities.
A range of business structures is available, including:
- Sole proprietorship
- General partnership
- Limited partnership
- Limited liability company (LLC)
The best business structure for your business depends on a range of different factors, including the level of control you want to retain over the business, taxes, and liability protection. Generally speaking a sole proprietorship offers the most simplicity and control but the least liability protection.
Whichever structure you choose, it is important to have clearly written and comprehensive documents that govern how the business is structured and managed, including articles of incorporation, operating agreements, shareholder agreements, and bylaws.
Contact a Business Lawyer in Tampa Today
If you are planning to form or restructure a business, Cook Law can provide legal help. Our business law attorney in Tampa will ensure you have fully considered all the legal matters that must be addressed or may arise in the formation of a business. Contact us today either online by using our online form or calling us at 813-489-1001 to schedule a consultation.