If you’re forming a business or reorganizing one in Indiana, it’s important to have the right structure in place. The wrong formation of your business could lead to liability issues, and you may not be taking full advantage of the tax benefits of each. As one of the few attorneys in Indiana who is also a CPA, attorney Curtis Butcher has an informed understanding of how your formation will inevitably affect your bottom line interests.
Common types of business entities
- Sole proprietorship. This is useful when a business is owned by one person who operates it and may employ workers. As a sole proprietor, you have total personal liability related to debts incurred by your business.
- Partnership. With two or more people operating the business, this is applied to those operating it with the common goal of profit. Like sole proprietorship, this arrangement implies total and unlimited liability of debts. There are three classifications of partnerships: general partnerships, limited partnerships, and limited liability partnerships.
- Corporation. This for-profit entity has limited liability. Unlike sole proprietorship and partnership, it is legally considered separate from its members. It can be owned by one or more shareholders, and a board of directors oversees it and the hiring of the managerial staff.
- Cooperative. This is commonly called a co-op. It is a for-profit, limited liability entity. It sets itself apart from corporations in that there are no shareholders and members share decision-making powers.
Seek an attorney willing to understand your goals
There are more than a few ways to form a business, and some of them may be a combination of entities that help protect it from lawsuits. The Law Office of Curtis J. Butcher works with medium and small businesses, helping them find the right combination. Curtis Butcher assists Indianapolis area clients with formation of entities such as:
- Corporations
- Partnerships
- Limited liability companies (LLC)
- Limited liability partnerships (LLP)
- Professional associations (PA)
- Professional corporations (PC)
- Sole proprietorships
With more than 40 years in helping businesses and other entities get off to successful starts, the Law Office of Curtis J. Butcher is prepared to help yours. Your initial consultation is free. You will sit down with attorney Curtis Butcher and discuss your case with him, not an assistant.
Entity formation attorney in Carmel, IN
If you’re ready to get your business started, you need to set an appointment to discuss your plans with an attorney with the experience that will pay off for the entity you seek. Set up your cost-free consultation and learn what structure will suit your needs.
