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Business formation

Business Formation Attorney in Arizona

Deciding on the appropriate business entity for your company is a crucial decision that directly impacts your finances, taxes, and personal liability. To ensure you choose the right structure for your business, it’s important to seek guidance from experienced business lawyers.

At Desert Valley Firm, we understand the significance of selecting the correct business entity, and our team of knowledgeable attorneys can provide comprehensive assistance throughout the entire process. We offer guidance and support for the following five main types of business formations:

  • Forms and Information You Need to Form Your Business
    1. Sole Proprietorship
    2. Partnership
    3. LLC
    4. C-Corp
    5. S-Corp
  • Why Hire a Lawyer When Establishing Your Business

Forms and Information You Need to Form Your Business:

When business planning and becoming a business owner, each type of business requires different forms and paperwork in order to stay in compliance with local laws and ordinances. Which entity is the best form depends on structure, liability, management and tax considerations. No matter which business structure you opt to start, having proper identification and business licensure is absolutely imperative.

01

Sole Proprietorships: Sole proprietorships are simple to establish and provide complete control over business activities, revenues, and decision-making. While this business structure allows for easy integration of business earnings into personal income, it also entails unlimited personal liability for any business debts incurred. Our attorneys can offer legal advice on sole proprietorship establishment, including business licensing requirements.

02

Partnerships: Partnerships are formed when two or more individuals join forces for profit. This type of business structure can be established without registering with the state, although it is highly recommended to have a written partnership agreement prepared by a business law professional. Our attorneys can assist with partnership agreements, profit sharing, and liability issues associated with different partnership types, such as general partnerships, limited partnerships, and limited liability partnerships.

03

LLCs: Limited Liability Companies (LLCs) are flexible business entities that offer various tax options. Single-member LLCs are treated as sole proprietorships for tax purposes, while multi-member LLCs are treated as partnerships. LLCs provide personal liability protection for owners and avoid double taxation since they are considered pass-through entities. Our attorneys can guide you through the formation process and help determine the most suitable tax structure for your LLC.

04

C-Corporations: C-Corporations are separate legal entities from their owners, who are taxed individually. These corporations are subject to double taxation, with taxes applied at the entity and shareholder levels. However, eligible C-Corporations can elect to be treated as S-Corporations to avoid double taxation. Our attorneys can explain the tax implications and assist with C-Corporation formation, compliance, and shareholder agreements.

05

S-Corporations: S-Corporations have shareholders, directors, and officers who are actively involved in the company's operations. They offer liability protection for shareholders and are "pass-through" entities for tax purposes, meaning the corporation does not pay taxes at the entity level. Instead, profits and losses pass through to shareholders, who report them on their personal tax returns. Our attorneys can help with S-Corporation formation, compliance, and legal requirements unique to this business structure.

Why Hire a Lawyer When Establishing Your Business:

Starting a new business can be complex, and it’s crucial to avoid mistakes and potential penalties. Hiring a competent team of business lawyers, such as those at Desert Valley Firm, ensures that you have the necessary legal expertise to navigate the process smoothly. We can assist with all the required documentation and ensure your business entity is properly established, allowing you to focus on your new venture. Contact us at 623-300-2727 to speak with one of our experienced business formation attorneys and receive the guidance you need.