Experienced Attorney Helping Arroyo Clients with Corporation Formation Issues

While it’s an exciting step in your career to create or make changes to your business, the process can also be stressful. Creating a corporation or LLC can get complex and involved. Because preventing problems is always easier and less expensive than solving them, it pays to have skilled legal guidance when you’re starting a new company or commercial entity.

 

What a Quality Business Agreement Can Do

A good legal business agreement fills two main functions: it creates a company structure that helps set certain expectations for the business, and it protects individuals against collateral damage in case difficulties arise. A well-crafted agreement explicitly lays the legal foundation for your new business venture, and it’s essential to getting your new business off on the right foot.

 

Putting an experienced attorney to work to push the process forward can pay dividends by ensuring the successful stability of your business. Doug Buchanan can help by fully analyzing your business plan, your risks and your tax position to help inform your decisions on how your new or changed business can look.

 

How Doug Can Help

Doug stands ready to guide you through all the legal complexities of the formation process. This can include offering advice and on how your business structure—whether it’s a partnership, LLC or S-Corp—can help you meet your goals. He can also provide input on what legal strategies work best to help protect your business assets and limit your liability. He can also help with tasks like customizing and drafting shareholder agreements and LLC membership agreements that are detailed enough to fully address all your business concerns.

 

Corporate Formation FAQ

How long does it take to incorporate a company in California?
As a rule, it takes the California Secretary of State about 25 business days to process your articles of incorporation. You can pay an additional expedite feeif you want the state to process your filing in 1-3 business days.

 

What are the costs and fees involved in incorporating a company in California?
There’s a fee that you pay your county or city in order to reserve your company’s name, which varies depending on your location. In addition, you pay a $115 in filing and handling fees in order to file California articles of incorporation. You must also file an initial report that gives detailed information about your company—that includes a base fee of $25 and a $75 service fee. Every year, you must file an annual report and pay a filing fee of $25, plus a minimum annual tax of $800 to the California Franchise Tax Board.

 

What’s the difference between an LLC and an S Corp?
Unlike an LLC or a C corporation, an S corporation is not a business entity. The S corp. designation refers to the way a business has chosen to be taxed under the Internal Revenue Code.

 

Doug Buchanan offers over 20 years of experience bringing solutions for issues that may arise during corporation and LLC formation in Arroyo Grande and throughout San Luis Obispo and Northern Santa Barbara counties. Call our office at (805) 541-6440 to schedule an initial consultation.