Running your own business demands a great deal of
perseverance and determination. This often leaves some time to deal with the
legal issues that constantly plague small companies. Having Tampa Business
Attorney on your side can create a huge difference in the day-to-day operations
of your business, assisting you deal with an array of issues related to taxes,
finance, business formations, acquisitions, mergers, employment/labor laws,
contract negotiations, and litigation.
Varieties of Business Structures
There are several ways that you can structure your business.
If you are just starting out and aren't sure what structure might be best for
your circumstances, or have been in business for a while and require restructuring
your business, a skilled Tampa Business Attorney can help. Major kinds of
business structures in the United States include:
Sole proprietorship: A sole proprietorship is an easy
business structure that allows a person to conduct business as his or her self.
Under this structure the owner and his or her company are viewed as one and the
same. While this is a simple way to start conducting business, it is important
to be aware that a sole proprietorship won't protect the particular owner from
any business liabilities.
Partnership: A partnership is a simple business structure
for businesses with more than one owner. There are two types of partnerships:
general partnerships and limited partnerships. When thinking about this
business structure, keep in mind that owners maintain personal liability for
the business. Owners with limited partnerships may face limited liability.
Corporation: Forming a corporation establishes a business as
a separate legal entity, providing owners with limited liability protection.
There are two types of corporations: C-corporations and S-corporations. There
are many key differences between the two of these types of corporations,
including tax issues and shareholder restrictions.
Limited Liability Company: Limited liability companies
establish businesses as separate legal entities from their owners, but allow
proprietors to report business gains and losses on their own personal taxes.
Owners are shielded from business liabilities under this structure; however,
LLCs are not available in all states.
Contact a Business Law Lawyer
Develop your business on a firm foundation with the help of
an experienced Tampa Business Lawyer. Tampa Business Lawyer cannot only make it
easier to find out what business structure is the best way to organize your
business, but can provide you with the legal services you need to protect your
interests and grow or maintain the business.