Choosing the proper structure of your business can affect the following:
- Business and personal tax implications
- What you can do with your profits
- Business and personal liability
- Initial costs of starting your business
- Day to day operations
- Buying other businesses and perhaps selling yours
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When choosing a business structure you should also be considering:
- How many owners will there be?
- Will you have a staff or employees and how many?
- Will you conduct business in other states?
- Have you looked into business insurance?
When purchasing an existing business, there is a lot to consider. For example:
- Are you purchasing the business assets, or the actual business entity, such as a Corporation or Limited Liability Company?
- Who is providing the financing of the purchase?
- What will the role be of the seller after the purchase?
- Will there be a non-compete or non-solicitation agreement?
- Will employees continue, and if so, under what terms and conditions?
- Are there leases or other contracts and agreements that are critical to the business?
There are number of business structure options including:
- Sole Proprietorship
- Limited Liability Company (LLC)
We offer Start Up Business Plans starting at $498/month for 3 months.
Contact Kemp Law Firm at 608-622-7763 to discuss our Business Startup Packages today!