If you are buying or selling a business, or starting one of your own, there are many issues to consider. Business organizations assume many forms, each with there own particular advantages.
Establishing a business entity typically requires filing Articles of Incorporation or Organization with the Minnesota Secretary of State. Other documents, such as By-Laws and Buy Sell Agreements, are often recommended or required.
Some advantages of establishing an S-Corporation or LLC include limited liability (owners’ personal assets are protected) and pass-through taxation (avoiding double taxation of income on the corporate and individual level).
On the day-to-day operations level, businesses often enter into contracts that must be carefully drafted and scrutinized to protect the business and its owners from unforeseen consequences.
Contact Conroy Law Office for assistance in navigating your way to a successful and profitable business enterprise.