Evergreen Business Formation Lawyers

Which Entity is Right for Your Business?

Our Evergreen business formation lawyers will provide experienced counsel on helping you choose a structure for your business, such as:

Corporations

A corporation is recognized as an individual entity under the law, distinct from its owners. It can own property, enter contracts, and is subject to legal action. Owned by shareholders, corporations are overseen by an elected board of directors and operated by appointed officers. Shareholders benefit from limited liability, offering enhanced protection against legal claims. For tax purposes, the corporation files a separate return and pays income tax on its profits.

In Colorado, the formation of corporations involves submitting Articles of Incorporation to the Colorado Secretary of State.

Limited Liability Company (LLC)

A limited liability company (LLC) merges the protections of a corporation with the streamlined operations of a partnership. LLCs also enjoy the benefit of “flow-through” taxation, where the profits and losses flow directly through the owner’s personal tax return. This eliminates double taxation since the LLC avoids corporate income tax: only the members are taxed on their personal returns.

When you start an LLC, you’ll choose registered agent to handle correspondence and legal matters on behalf of the business. You’ll also choose a unique name for your LLC, incorporating the words “limited liability company” or an abbreviation like limited or ltd. This name doesn’t necessarily need to match the name you use to market to customers.

What Is Required to Form a Corporation in Colorado?

To initiate the formation of a corporation and submit the Articles of Incorporation, your business formation lawyer will need the following information:

• Your company’s name and address
• Your registered agent’s contact information
• Your contact information
• Identifying information of the initial shareholders, board of directors, and officers
• The amount of capital the initial shareholder intends to invest, typically covering filing fees and initial business setup needs such as leasing an office space
• The specified number of shares to be allocated to the initial shareholders

Other Types of Business Entities

Corporations and LLCs are some of the most common business structures, particularly for foreign entities setting up U.S. ventures. However, another structure could better address your business’s needs, such as:

• General partnerships — Here, two or more partners jointly operate a business and equally share profits and losses. Partners also share unlimited personal liability, meaning they’re responsible for the business’s debts and obligations.
• Limited partnerships — In this structure, general partners run the business and share liability with the addition of limited partners who contribute capital and have limited liability for business debts. Limited partners enjoy more protections from lawsuits and creditors than general partners.
• Proprietorships —A sole proprietorship is a cost-effective and simple option to start a business, where only one person owns and manages the entity. However, the owner has unlimited personal liability and is open to significant financial risk.
• Cooperatives — Cooperatives are controlled by their owners who democratically manage decision-making and enjoy profit sharing. Owners are stakeholders who utilize the business’s services or products.

Choosing the right structure might seem confusing. An Evergreen business formation lawyer demystify the options and help you reach the optimal decision for your goals.

Lantz Law Group’s Business Formation Services in Evergreen

Our team offers comprehensive legal support for individuals embarking on business formation, addressing key aspects including:

• Selecting the most suitable business entity for your new venture
• Crafting and submitting formation documents
• Drafting and scrutinizing contracts and shareholder agreements
• Creating and reviewing policies, procedures, and other essential new business documentation
• Securing essential business licenses and permits
• Facilitating the merger of two businesses to establish a new entity
• Adherence to federal and state regulations

Why Work with Our Business Formation Lawyers?

You can confidently take on forming a business with the help of an attorney who can safeguard your interests from the start by:

• Steering clear of legal pitfalls and costly errors
• Ensuring compliance with pertinent laws and regulations
• Liberating your time and resources to manage and expand your business

The services of a business formation lawyer in Evergreen are a worthwhile investment in establishing your business for success and a bright future.

Contact Our Evergreen Business Formation Lawyers Today

Launching your business in Colorado should be an exciting adventure, not a daunting challenge. The Evergreen business lawyers at Lantz Law Group will help you turn your aspirations into reality, equipping you with the legal tools and experienced counsel you need to start your new venture.

Call 720-571-8620 today or contact us to schedule an initial consultation.