Snohomish County Business Formation Attorney
Starting a business is rewarding, but also risky. You want to mitigate your risk by carefully considering each aspect of business formation, and this begins with the type of company you want to form. While there is no requirement that you formally register your small business with the state, you will need to do so if you want to benefit from certain legal protections. Always discuss your options with a business formation lawyer who assists new companies in Snohomish County.
Owners have different decisions to make regarding business formation, including:
- Sole proprietorship = You do not need to register or file paperwork for a sole proprietorship. If you begin conducting business, you have a sole proprietorship that is not a separate legal entity from yourself.
- Partnership = Similar to a sole proprietorship, a partnership requires no paperwork filings. When more than one person conducts business together, they have a partnership.
- Limited liability company (LLC) = An LLC must be registered with the state, and owners must meet all requirements. An LLC provides protections from personal liability from owners, as this is a separate entity from the owners and their personal assets. Certain professionals, such as accountants, lawyers, or doctors, can also form professional limited liability companies (PLLCs).
- Corporations = Corporations have even stronger liability protections, but they also require an extensive amount of filings with the state. There are different types of corporations to choose from, as well. Some small business owners might form LLCs but choose to be taxed as S corporations due to available tax benefits.
At Bountiful Law, we work closely with our business owner clients to ensure they select the proper business formation and meet all legal requirements. Contact us to discuss how we can help with formation, compliance, and other business law matters.