How to Form a Business Entity in Irvine, California
There are a variety of different business entities that can be formed to provide protection from liability and various tax benefits. These include S-corporations, C-corporations, and Limited Liability Companies (LLCs). When you decide to start a business, you will need to make the choice about not only the type of business entity that you wish to operate as, but also about the state where you wish to be incorporated.
Knowing how to form a business entity is complicated, especially if you are not sure what state to start your business in. An experienced Irvine business formation lawyer at Brown & Charbonneau, LLP will help you throughout the process. Contact us today to schedule a consultation and speak with an attorney who will help you to get your business off the ground.
Forming a Business Entity
The first step to form a business entity is to decide what type of organization is right for you. If you want a business that provides protection from liability, your options will generally include a Limited Liability Company (LLC), an S-corporation or a C-corporation. Both S-corporations and C-corporations provide more flexibility associated with how business income is taxed, but you will have more paperwork requirements initially and on an ongoing basis.
After deciding what specific type of organization you want, your next choice is what state you should file your Articles of Incorporation or LLC paperwork in. Many organizations will simply incorporate in the area where the business is physically located. This can be the simplest process, since you only need to file paperwork in the state where you will be located and operational. However, there are other situations where it can make sense to look for a state that provides more favorable tax treatment to your business, or that has laws that are generally more protective of company interests. For example, those who wish to incorporate in the states that are friendliest to businesses may look into incorporating in Delaware, while those that want the best tax structures for businesses may think about incorporating in Texas, Nevada or Wyoming.
When you have decided on the state where you will be forming your LLC or corporation, the next step is to obtain the appropriate paperwork at the state and federal level. No matter where your business is incorporated, you will need to obtain a tax identification number (TIN) or employer identification number (EIN) from the Internal Revenue Service (IRS). You will also need to file Articles of Incorporation. The specific forms you will need and the state agency with which those forms are filed varies depending upon the jurisdiction.
Contact an Experienced Irvine Business Formation Attorney
Your attorney will help you to determine exactly what paperwork you need to file and will assist in completing the correct forms in the location where you are starting your business. Call or message Brown & Charbonneau, LLP today to take your first step toward forming a business entity.