Limited Liability Companies (LLCS) have become one of the most popular vehicles for small business ownership. LLCs, if properly registered and maintained, provide individuals protection from unlimited personal liability and are relatively easy to manage. Ohly Law Office has a wealth of experience drafting and explaining the legal implications of all of the documents necessary to form a LLC.
S-Corporations provide another popular option when organizing a business. Maintaining an S-Corp. requires more work than an LLC, but may have tax benefits for some individuals. Some accountants prefer this entity to LLCs so it is always a good idea to speak with your accountant before you decide which entity is a better fit for you. The first thing you should do if you are thinking of forming an S-Corp. or an LLC is create a name for the entity. Once you have a name, check the Secretary of State’s website to make sure the name is available.