Kadish & Anthony Law Group Contact Our Firm

Se Habla EspaƱol

Creative Solutions That Are Cost Effective
Schedule A Consultation: 480-967-2688 Weekend & Evenings By Appointment
View Our Practice Areas

Know how legal business structures can impact you

One of the decisions that you have to make when you are starting a business is what legal structure you are going to use. There are several that you can choose from, but you shouldn't rush into choosing one. Instead, look at the circumstances of the company and make a decision based on that.

Different types of structures provide different benefits and protections. It is always best to evaluate this from an honest perspective. The last thing that you need is to face legal action down the road only to find that you are in more trouble than you would have been if you had chosen a different structure.

If you are an individual who won't hire employees, you might be able to use the sole proprietorship. You don't have to pay any fees or file special paperwork to do this. The downside to this is that you are solely responsible for any liabilities for your business. You might be able to purchase insurance to cover these.

If you are going into business with another person, you can't use the sole proprietorship. You could start a partnership, which is similar in that it doesn't require special paperwork or fees. You and your partner will each claim your own share of the profits on your own taxes. You will each be responsible for any debts or liabilities the business incurs.

Other business structures to consider are limited partnerships, corporations, limited liability company, co-op or nonprofit. Typically, these are costlier to start than sole proprietorships and partnerships. They can offer more protections, and some have tax consequences that you need to consider. A business law attorney can help you determine which type of business structure is right for you.

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

4647 North 32nd Street, Suite 135
Phoenix, AZ 85018

Toll Free: 800-431-5180
Toll Free: 800-431-5180
Phone: 480-967-2688
Fax: 480-967-2725
Phoenix Law Office Map